ALSO READNew IIP, WPI series introduced, show overall benign macronumbers Finding stocks with an upside will be difficult Markets trade flat in afternoon trade on corporate earnings, WPI inflation Value of capital goods may reduce IIP volatility Markets pare initial gains, Nifty slips below 9,400 ahead of inflation data
Trading sentiment in the stock market will be driven by announcement of key macroeconomic data such as inflation and industrial production as also quarterly earnings from blue-chips TCS and Infosys. "After a smooth rollout of GST, market is expected to look forward to Q1 FY18 earnings, IIP, CPI, and WPI data," said Vinod Nair, Head of Research, Geojit Financial Services. TCS is scheduled to announce its quarterly earnings on July 13 and Infosys July 14. "Results from early birds will start coming in this week. The week is also full of fresh economic data points," said V K Sharma, Head, Private Client Group at HDFC Securities. Industrial production data for May is due on Wednesday.
On the same day, inflation based on CPI for June is scheduled to be announced. Wholesale price index (WPI) for June is due on Friday. "Going ahead, market is likely to dance to the tune of several macroeconomic events like inflation and industrial production, which are due this week," said Abnish Kumar Sudhanshu, Director and Research Head, Amrapali Aadya Trading and Investments. Stock markets may on Monday react to US jobs data that came in on Friday. During the past week, the Sensex registered a rise of 439.02 points, or 1.41 per cent, while the Nifty added 144.90 points, or 1.52 per cent.
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