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Markets Next Week: Earnings, Global Cues Key Triggers
Markets once again ended the week higher, with sustained buying seen in banking stocks. Global cues were strong given the strong rally in the US and European markets.
Crude oil prices supported global markets very well, with crude oil seeing the biggest gains in 2016.
HDFC Bank's numbers were in line with estimates and so were the numbers from IndusInd Bank. Infosys was a blockbuster set of numbers, even as TCS numbers were in line with estimates. Reliance Industries reported numbers on Friday after market hours.
This results were good and analysts expect the stock to be higher by 1-2 per cent on Monday.
Banking sector numbers in the next two weeks would be important to gauge the health of the banking sector, particularly from the likes of ICICI Bank and a host of names like Punjab National Bank and Bank of Baroda.
Apart from earnings, global cues would also play an important role. The earnings season has also kicked-off in the US and investors there too would keep a watch on the results.
The US Federal Reserve would meet this week. While it is not widely expected to hike interest rates, what would also be eagerly watched would be the statement. It would be a surprise, if the US Fed hikes interest rates in its policy meet. If it does not, what would be eagerly watched would be the statement for predictions on future interest rate hikes.
A hawkish tone from the US Fed could lead to some reaction in stocks across the globe.
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