India: Q2 earnings, inflation data to remain in focus

Second quarter earnings from bluechip companies like RIL and TCS, inflation data and investment by overseas investors would dictate trading in the stock market in a holiday-shortened week ahead, say experts. Besides, movement of rupee against the dollar and crude oil price will also influence trading at the bourses. Stock markets will remain closed on Wednesday due to assembly elections in Maharashtra. Industrial production growth remained subdued at five- month low of 0.4 per cent in August. Factory output measured in terms of the Index of Industrial Production (IIP) growth remained slow in August mainly due to contraction in manufacturing output and lower offtake of consumer goods. The index had also grown at a meagre rate of 0.4 per cent in August, 2013. Among major earnings this week are from bluechip firms such as Reliance Industries, Bajaj Auto, TCS, Hero MotoCorp, Axis Bank, HCL Technologies and UltraTech Cement. The BSE 30-share barometer Sensex ended the week at 26,297.38, a net fall of 270.61 points, or 1.02 per cent, according to indiatimes.com