Quarterly earnings, macroeconomic data among key factors that will guide markets next week

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Investors will monitor a fresh round of corporate earnings next week. Besides, the trend in global stock markets, the movement of rupee against the dollar and crude oil prices will dictate trend on the bourses in the near term. Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will also be watched.

In the passing week, markets witnessed a rally, with Nifty and Sensex settling above their respective psychological levels of 17,850 and 60,000 respectively as the Reserve Bank of India’s monetary policy committee kept key interest rates unchanged. The coming holiday-shortened week will be a data heavy week. Equity markets will remain closed on Friday on account of ‘Dussehra’. Here are key factors that will steer the market next week:

Q2 earnings

Investors will continue to watch September 2021 quarterly earnings for direction. Shares of TCS will on Monday, 11 October 2021 react to its result announced after market hours on Friday, 8 October 2021. Infosys and Wipro will declare their results on 13 October 2021. HCL Technologies will declare its result on 14 October 2021.

Macroeconomic data

On the economic front, market participants would be eyeing the data of the Consumer Price Index (CPI) which is scheduled to be released on October 12. On the same day, Industrial Production and Manufacturing Production for the month of September will also be releasing.

Traders will also be looking forward to the Wholesale Price Index (WPI) data for the month of September, scheduled to be released on October 14. WPI rate in India edged up to 11.39% in August of 2021, from 11.16% in the previous month.

Global cues

On the global front, investors will be eyeing macroeconomic reports from the world’s largest economy, United States, starting with Redbook, JOLTs Job Openings on October 12, followed by Core Inflation Rate, FOMC Minutes on October 13, PPI MoM, Initial Jobless Claims, Monthly Budget Statement on October 14 and finally Retail Sales, Import & Export Prices, Michigan Inflation Expectations, Baker Hughes Total Rig Count on October 15.