A morning walk down Dalal Street on July 30, 2018
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Moneycontrol News
What a week for Indian markets. Benchmark indices rose over 2 percent each for the week to hit fresh record highs. The August expiry which started with rollovers of 74 percent is a sign that more long positions got rolled over in the current series which is a healthy sign.
More fresh highs are in the offing for benchmark indices before we take a breather from here on. For the coming week, earnings will be the focus point or one factor which could decide the trend for the markets.
Around 450 companies are scheduled to report results this week for the quarter ended June in this week which include largecap names like HDFC Bank, Tata Motors, ONGC, Axis Bank, and Titan Company.
The big event which will be watched by investors will be the MPC meet starting July 30. The decision of the MPC will be announced at 14:30 hours IST on August 1.
Most economists expect the MPC to keep policy rates unchanged but the commentary would be a key thing to watch out for.
Automobile companies will start declaring their July month sales data from August 1. So, automakers will be in focus such as Maruti Suzuki, Tata Motors, M&M etc. among others.
On the macro front, India Core Infrastructure Output for June will be released on Tuesday. India Nikkei Manufacturing PMI for July will be announced on Wednesday and Nikkei Services PMI for July on Friday.