Earnings from Infosys & TCS, macro data to set market trend

Infosys will kickstart corporate earnings season on Monday, followed by TCS, Hind Unilever and RIL

Second-quarter earnings from blue-chips such as Infosys, TCS and Reliance Industries and key macroeconomic data -- IIP and inflation -- will dictate the trend of the stock market this week, according to experts.

"The near-term major trigger for the market will be September 2015 earnings. Focus will also be on management guidance and outlook from corporates for the remaining part of the year. Apart from earnings, macroeconomic data, trend in global markets, movement of the rupee against the dollar and crude oil price will decide the trend on the bourses this week," said Vijay Singhania, Founder Director, Trade Smart Online.

Infosys will kickstart corporate earnings season from Monday, followed by TCS, Hindustan Unilever and Reliance Industries.

"Going forward, with the results season having already kicked in, the week ahead will be greeted with all important results of Infosys, followed by TCS on Tuesday. These results could impact market sentiment and induce some volatility.

"Further, industrial production (IIP) and inflation data will also be released, which will be on the market radar," said Head, Research, Reliance Securities, Hitesh Agrawal.

Over the last week, the BSE benchmark Sensex gained 858.56 points to conclude at 27,079.51.

The index has gained 1,216.01 points, or 4.70 per cent, in two weeks.

"Movement of index in the near term will depend on trend in global markets, investment by foreign investors, movement of the rupee against the dollar, CPI and IIP data to be announced on October 12 and also WPI data to be announced on October 14," said CMT Director Research, CapitalVia Global Research Limited Vivek Gupta.