RBI policy meet, June quarter results, macroeconomic data, and global cues are the key factors that will sway market sentiment this week. This apart, progress in monsoon, foreign fund flow, oil price, and the movement of rupee against the US dollar will also be on investors' radar.
They will keep an eye out for various domestic and global macroeconomic prints set to be released this week, including India-Market PMI services and IIP figures.
Companies will continue to roll out June quarter earnings. The big ones include Indiabulls Housing Finance, Titan, HCL Tech, Mahindra & Mahindra, and Tata Steel. Investors will react to these and other major results announced post market hours on Friday and during the weekend that includes results of ITC, Nestle, Care Ratings and JK Cement.
Today, as many as 100 companies, including the likes of Bombay Dyeing, SRF, Tata Power, and Torrent Power are scheduled to announce their June quarter earnings today.
Now, let's focus on the primary market. Microfinance lender Spandana Sphoorty Financial will launch its Rs 1,200-crore initial public offering (IPO) today. Spandana’s business is a new one, with almost no baggage of the past.
Additionally, markets will react negatively to any escalation on the US-China trade war front, revived last week by US President Donald Trump who announced 10 per cent tariffs on $300 billion Chinese imports.
Now, let's take a look at the global markets. Asian shares extended their losses on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.25 per cent. Japan's Nikkei slipped 1.1 per cent, while Australian shares were also down.
In the commodities market, oil prices were pulled down on demand worries. Brent crude was down 50 cents at $61.39 a barrel while US crude was down 24 cents at $55.42 a barrel.
And now, here're the top headlines for the day -
>> Govt moves SC to make NCLT judges stick to deadline for resolving cases;
>> Embassy may call off stake-purchase deal with Indiabulls Real Estate;
>> Economic slowdown is cyclical; growth will pick up in 1-2 yrs: Bimal Jalan;
>> Deloitte quits as auditor of crisis-hit DHFL