New Delhi, Oct 29 (PTI) Quarterly earnings, macroeconomicdata points and recapitalisation play are going to be thecrucial metrics to track for the stock market this week, sayexperts.
"In the near term, stock-specific actions will bewitnessed due to ongoing Q2 results. Going ahead, market willclosely watch details of bank recapitalisation programme. Fedinterest rate decision is the key event to be watchful (of),"said Vinod Nair, Head of Research at Geojit FinancialServices.
PMI data for manufacturing and services sectors are duethis week.
"Markets have moved up strongly in October aided bypositive global cues, bank recapitalisation and liquiditysupport. Given the premium valuations, we expect the marketsto consolidate these gains in November. Stocks that arereporting good earnings would continue to be lapped up by theinvestors," said Sanjeev Zarbade, Vice-President, PCGResearch, Kotak Securities.
Major companies reporting their earnings this weekinclude Lupin, Tata Steel and Union Bank of India.
Auto stocks will also be in focus this week in view ofsales data announcement.
Over the last week, the Sensex recorded handsome gains of767.26 points or 2.37 per cent -- its best weekly gain sinceJanuary 27. PTI SUM ARDSBT.
This is unedited, unformatted feed from the Press Trust of India wire.