New Delhi, Jan 14 (PTI) Quarterly earnings from bluechipsHDFC Bank, ITC and Wipro as also wholesale inflation datawould set the tone for the bourses this week, say analysts.
"Market is likely to maintain its current positivemomentum given strong liquidity and buoyancy in globalmarkets. But in the near term, the market focus will be on Q3earnings season and budget related cues which will dictate thetrend," said Vinod Nair, Head of Research, Geojit FinancialServices.
The stock markets are also likely to react to IIP andretail inflation data announced after market hours on Friday.
A robust performance by the manufacturing sector took theindustrial production growth to 17-month high of 8.4 per centin November, but retail inflation at 17-month high of 5.2 percent in December dampened the euphoria.
"Equity markets had positive ending with indices closingat all-time high levels. Results season has kicked in withlarge caps like TCS results in line with expectation. Infosysreported better results.
"Market enthusiasm continues. However, rising crudeprices and higher yield are concerns as of now," said AnitaGandhi, Whole Time Director, Arihant Capital Markets.
During the past week, the Sensex gained 438.54 points, or1.28 per cent, while the Nifty rose 122.40 points, or 1.15per cent.
"Inflation numbers of Monday will be eyed. Results seasonwill be in flow with some heavyweights like HindustanUnilever, Yes Bank, ITC and Kotak Mahindra will be coming outwith earnings and of course, the after-effects of Infosys willfurther give some momentum," said Mustafa Nadeem, CEO, EpicResearch.
Infosys, India's second largest IT exporter, on Fridayreported 38.3 per cent growth in consolidated net profit to Rs5,129 crore for the October-December quarter of 2017-18.
"Focus has turned to the ongoing earnings season and theupcoming union budget," said Sanjeev Zarbade, Vice-President –PCG Research at Kotak Securities.
"Market will be keenly watching important policyannouncements that the budget will deliver which will reallydecide the direction of the market in the near term," saidJimeet Modi, Founder and CEO, SAMCO Securities. PTI SUMABM.
This is unedited, unformatted feed from the Press Trust of India wire.