TCS, Infosys Q2 results, FOMC minutes among major triggers for market next week

 

Stock Market outlook: Snapping a two-day winning streak, the Indian market ended marginally lower amid volatility on Friday. 

Snapping a two-day winning streak, the Indian market ended marginally lower amid volatility on Friday. Benchmarks Nifty50 and Sensex declined by 0.5-0.10% in the holiday shortened week. The former dropped by 0.10% to end at 17,314.65 and the latter ended marginally lower by 0.05% or 30.81 points to settle at 58,191.29 in the week ended October 7, 2022. However, the market gained around one per cent on the weekly basis. The broader market closed on a mixed note with Nifty midcap declining by 0.24% and the smallcap gaining by the same per cent.  

Read More: PNB WhatsApp banking: Check how to activate, services offered to customers and non-customers

Sectorally, Private Bank, Realty, Media and Consumer Durables gained the most, while all other indices ended in the red.   

“Prior to the release of the US jobs data, the domestic market traded with cuts in line with its global counterparts. Stronger-than-anticipated job data may lead to a market decline as it could give the Fed more reasons to focus on inflation,” said Vinod Nair, Head of Research at Geojit Financial Services.  

“Following OPEC+’s announcement of supply reductions, crude prices have continued to rise, while the rupee has dropped to a fresh low as a result of hawkish remarks from Fed officials,” he added.  

Meanwhile, analysts believe that Q2 results of IT giants, global trends, movement of rupee and macro data will be major triggers for the next week.    

“This week, participants will be eyeing important macroeconomic data viz IIP, CPI and WPI… Besides, the week also marks the beginning of the earnings season with IT majors like TCS, Infosys, HCL Tech and Wipro announcing their numbers along with two other heavyweights Bajaj Auto and HDFC Bank,” said Ajit Mishra, VP – Research, Religare Broking Ltd. 

Read More: PM Kisan Yojana: Step-By-Step guide to check name in the list for the 12th Instalment

Apart from these factors, performance of the US markets, FIIs’ trend, and movement in currency and crude will also remain on their radar, he added. 

This week will be a roller-coaster ride as a series of important events are lined up, including IT companies quarterly results, said Apurva Sheth, Head of Market Perspectives, Samco Securities.

“Markets across the globe will be dominated by the FOMC (Federal Open Market Committee) minutes that will be released this week. While global investors will be keenly monitoring inflation figures in the United States and China, Indian CPI print will be a key domestic factor to monitor,” he noted. 

The market’s will focus on quarterly earnings this week, particularly for IT stocks, said Nair. “Additionally, domestic market’s movement would be significantly affected by inflation data that is anticipated for release this week,” added Nair.  

Comments

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the Corona ep
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the Incom
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5% TDS on amounts exceedi
Read more