Earnings to guide market momentum this week amid Covid scare: Analyst

Analysts further said that the focus is likely to remain on the COVID situation, global equity markets, investment pattern of foreign institutional investors (FIIs), rupee-dollar trend and Brent crude.

Vinod Nair, Head of Research, Geojit Financial Services, said, “This week, the domestic market is expected to focus more on earnings results with banking and finance sector. The market is also expected to gain momentum from the COVID cases and related trends. Possibility of sanctions with cues from global markets.”

Meanwhile, Ajit Mishra, VP Research, Religare Broking has said, “Earnings season will pick up pace this week and participants will be eyeing the results of some of the top names like Reliance, UltraTech Cement, Bajaj Auto, JSW Steel, Bajaj Finance among others. , Asian Paints, Hindustan Unilever among others. Earlier, markets would react to the earnings of two heavyweights – HCL Technologies and HDFC Bank – in early trade on Monday.

Mishra further said that apart from other events and figures, the expectations around the Union Budget have led to noticeable moves across the board.

“Amidst all, global cues and updates on the COVID situation are also on the radar of the market,” he added.

Santosh Meena, Head of Research, Swastika Investmart Ltd. said, “The pre-budget move has started in many pockets and it is likely to continue this week as well. Global markets are showing some volatility which will have some impact on our market. Well From.”

“Covid cases are on the rise but market is content about cases as hospitalization and mortality rates are very low. Markets volatile ahead of new all-time high amid third quarter earnings, global cues and pre-budget expectations likely to stay.” He mentioned.

CEAT and Bajaj Finserv are among other companies that will announce their third quarter figures this week. Last week itself, the BSE benchmark Sensex jumped 1,478.38 points or 2.47%.