Global trends, earnings from TCS, HCLTech to guide mkts this week: Analysts
Equity markets will take cues from global trends and trading activity of foreign investors, while in the latter part of the week the first quarter earnings from IT majors TCS and HCL Technologies would guide investor sentiments, analysts said.
Markets may consolidate after the record rally last week, experts added.
"On the domestic front, the Q1 earnings season begins this week. Key companies such as TCS and HCL Technologies will release their earnings on July 11 and 12, 2024, respectively. Additionally, India's Union budget in July is a key event, with hopes pinned on growth-oriented policies and development of monsoon season, which will also be significant points of interest for investors and traders," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
The US Federal Reserve Chair Jerome Powell's testimony is scheduled for July 9, 2024, he added.
"Furthermore, the activities of both foreign and domestic institutional investors (FII & DII) will be tracked, ...