India WPI, RIL, HUL Q3 Results, Macro Cues Among Top Market Triggers This Week

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India WPI, RIL, HUL Q3 Results, Macro Cues Among Top Market Triggers This Week
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The domestic market closed the Jan 13-ended week moderately higher with benchmarks clocking 0.5% gains, aided by encouraging domestic and US inflation data, indicating less aggressive rate hikes by central banks and decent Q3 earnings by IT majors, while continued FII selling capped further uptick.

Headline indices Nifty50 ended 0.55% higher at 17,956.6 points, below the psychological 18,000 mark and Sensex rose 0.51% or 303.15 points on Friday.

Market analysts combinedly expect domestic equities to continue consolidating in the new week, with a focus on more Q3 earnings by heavyweights and macro cues from India as well as other countries, which would provide hints on economic recovery and rate hike estimates by central banks.

WPI Inflation

India will release its wholesale inflation figure for December on Jan 16, with Investing.com expecting the print to ease to 5.6% YoY from 5.85% in November 2022.

Earnings Results

On Monday, the market will react to the Q3 earnings of biggies HDFC Bank (NS: HDBK ), Wipro (NS: WIPR ) and Avenue Supermarts (NS: AVEU ).

In the week ahead, a total of 190 companies will release their earnings for the Dec quarter, including Reliance Industries (NS: RELI ), Hindustan Unilever (NS: HLL ), Asian Paints (NS: ASPN ), ICICI Bank (NS: ICBK ), UltraTech Cement (NS: ULTC ), JSW Steel (NS: JSTL ), Kotak Mahindra Bank (NS: KTKM ), IndusInd Bank (NS: INBK ), SBI Life Insurance Company (NS: SBIL ), and Delta Corp (NS: DELT ).

Global Macroeconomic Cues

The week ahead will release macro data like China’s Q4 GDP , industrial production for Dec, Bank of England’s Governor statement , UK CPI for Dec, US retail sales and Dec building permits, Bank of Japan’s rate hike decision and CPI for Dec, among others.

FPI/FII Flow

Foreign investors have sold a (net) whopping Rs 15,068 crore from Indian equities in the first two weeks of 2023, capping gains on Dalal Street, on the back of Covid risks, recession worries in the US, foreign investors chasing lower valuations by selling in overvalued markets like India. The trend is expected to continue for a few more days.

Read Also: FPIs Selling Intensifies to Rs 15,000 Crore So Far in Jan: Here’s Why, Outlook?

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  • yash pal @yash pal
    market kidhar bhi jaye,apun ko to paisa banana hai
    Like 3
  • share trick nifty @share trick nifty
    nifty 17660 near day 100%
    Like 0
    • yash pal @yash pal
      hehehehe 18400
      Like 0

      • Comment Guidelines

      We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

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  • hahahehe huhu @hahahehe huhu
    nifty definitely is a overpriced market it true value is not more then 8000
    Like 0
    • yash pal @yash pal
      😂😂😂😂😂
      Like 0

      • Comment Guidelines

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  • Krishna Kumar @Krishna Kumar
    18450 will be jan high? Likely
    Like 4
  • Bharat Nahata @Bharat Nahata
    18400
    Like 4

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