course bg
EduPristine>Blog>Markets on watch for Infosys

Markets on watch for Infosys

January 7, 2015

Experts say that after a good start to the New Year, we can expect the stocks to consolidate gains in the week to January 9th, with investors taking cues from earnings with Infosys starting off with the October-December quarter results on 9th January.

The tone on stock bourses is also set by global cues such as investment trends by overseas investors, the movement of rupee against the dollar and crude oil price.

NSE nifty surged to near 8400 levels last week about 2% rise, and the benchmark BSE Sensex settled at 27,887.90, a near 4 week high. Smallcap and midcap stock indices soared by about four each, outshining the largecaps.

Religare Securities president Jayant Manglik said that this is a crucial week for markets as it marks the start of earning season, with the IT major, Infosys reporting its quarterly results on 9th of January.

In the week to January 2, an indicator showed that the expansion in Indian Manufacturing activity happened at fastest pace in 2 years in December. As a result, markets are looking forward to the release of HSBC service PMI data.

Amidst the hopes of announcement of positive news at the end of the 2 day session on Saturday, Banking stocks would remain in focus.

Arun Jaitley, Finance Minister had termed the level of bad assets in the system as “unacceptable” and promised state-run banks more autonomy.

Rakesh Goyal, senior vice president of Bonanza Portfolio said that the markets can be expected to remain sideways this week and within the range of 8100 – 8550 levels for Nifty in the medium term.

In the global markets, data for the UK construction purchasing manager’s index (PMI) for December will be unveiled on Monday, followed by the ISM Services PMI data for the US on Tuesday.

US non-farm payrolls and unemployment rate data are also scheduled for release later in the week.

About Author

avatar EduPristine

EduPristine is a member of Adtalem Global Education (NYSE: ATGE), a global education provider headquartered in the United States. Adtalem is a 3 billion dollars (20,000 crores) company that has about 9 institutions and companies with more than 16,000 employees spread across 145 locations. Adtalem takes pride in training 142,000 degree-seeking students all over the world.The organization's purpose is to empower students to achieve their goals, find success and make inspiring contributions to our global community. EduPristine is one of India's leading training providers in Analytics, Accounting, Finance, Healthcare, and Marketing. Founded in 2008, EduPristine has a strong online platform and network of classrooms across India and caters to self-paced learning and online learning, in addition to classroom learning


Interested in this topic?

Our counsellors will get in touch with you with more information about this topic.

* Mandatory Field

Post ID = 69436