Second quarter earnings to drive stock mkts this week: Experts
A slew of earnings announcements from blue-chips, including Maruti Suzuki and ICICI Bank, will set the tone for stock markets this week, say experts.
Besides, trend in global markets, investment by overseas investors, movement of rupee against the dollar and crude oil price would also influence the trend on bourses.
"We believe positivity would extend further in the days to come; however, traders should be cautious in stock selection due to prevailing earning season," said Jayant Manglik, President-retail distribution, Religare Securities.
Major earnings this week include those from Hindustan Unilever, Lupin, Dr Reddy's Laboratories, Sesa Sterlite, Tech Mahindra, ACC, Ambuja Cements, Bharti Airtel, ICICI Bank, Maruti Suzuki India and Suzlon Energy.
On the global front, the Federal Open Markets Committee (FOMC) will undertake a monetary policy review at a two-day meeting on Tuesday and Wednesday.
The benchmark S&P BSE 30-share Sensex concluded the week at 26,851.05, showing a surge of 742.52 points.