Inflation, IIP data, cabinet reshuffle key for Indian markets: Experts
Monday, 10 November 2014
NEW DELHI, Nov 9 (Business Standard): Inflation data for October, industrial output numbers for September, quarterly earnings of blue-chips such as Tata Motors, ONGC and SBI, as also the first reshuffle of the Union Cabinet would dictate the stock markets trend this week, say experts.
Besides, overseas investments and movement of the rupee against the dollar would be crucial for markets.
"Movement of index in near-term will depend on upcoming IIP, CPI & WPI data and second quarter results of important companies," said Vivek Gupta, CMT-Director Research, CapitalVia Global Research Limited.
Several blue-chips are slated to announce their earnings this week, including Tata Steel, Cipla, Tata Power, DLF, Hindalco Industries, Sun Pharmaceutical Industries, Tata Motors, Bharat Heavy Electricals, ONGC and State Bank of India.
Industrial production data for September would come out on Wednesday.
Inflation based on combined consumer price indices (CPI) for October would also come on Wednesday, while inflation based on wholesale price index (WPI) would be announced on Friday.