NEW DELHI, Nov 12: Indian stock indices this week will take leads from inflation numbers for October and trend in global oil prices, say experts.
“Currently, the market seems to have discounted the near-term hiccups in earnings as experienced in GST-led disruptions. However, the current consolidation may extend if oil prices continue its uptrend. For the week ahead, CPI and WPI inflation are key data to be watchful of,” said Vinod Nair, Head of Research, Geojit Financial Services.
Idea Cellular, NMDC, SpiceJet and United Bank of India are among the big names that are set to release their earnings numbers this week.
“Going ahead this week, focus will continue to remain on the developments in the Middle-East and oil prices due to increasing tensions in the Middle East and rising US oil production. Domestically, results of remaining companies will also be in focus,” said Teena Virmani, Vice-president, PCG Research, Kotak Securities.
Meanwhile, industrial production grew at a slower pace of 3.8 per cent in September, mainly due to subdued performance of the manufacturing sector coupled with contraction in output of consumer durables.
Over the last week, the Sensex recorded a fall of 371 points, or 1.10 per cent, and the NSE Nifty 130.75 points, or 1.25 per cent. (PTI)
Follow our WhatsApp channel