TCS Q1 Results, Crude Oil Prices to Drive Stock Market This Week
Analysts said trading sentiment in the stock market this week will depend on crude oil prices, global trends and the start of corporate earnings season, with IT pioneer TCS reporting its June quarter financial results on July 9. They also added that the advancement of the southwest monsoon and trading activities of foreign investors will also affect market trading.
“Investors will closely watch TCS’s quarterly results on July 9, particularly focusing on management commentary on demand trends, discretionary spending and AI-led business opportunities,” said Ajit Mishra, Senior Vice President, Research, Religare Broking Ltd. he said.
Last week, BSE benchmark Sensex rose 663.44 points or 0.86 per cent, while NSE Nifty rose 214.85 points or 0.89 per cent.
Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd, said, “Domestically, investors’ attention will be focused on the start of the Q27 earnings season from July 9 onwards and initial corporate earnings and management commentary are expected to provide valuable insights on demand conditions, margin trends and earnings visibility.” he said.
Additionally, he noted that southwest monsoon and progress in kharif cultivation will continue to be important indicators for rural demand, inflation expectations and overall economic growth.
Meanwhile, the next round of technical talks between the United States and Iran is expected to be held on July 11, but a final decision on its location has not yet been announced.
Ponmudi R, CEO of online trading and asset technology company Enrich Money, said, “Crude oil prices will continue to be in focus after stabilizing around $68-69 per barrel as concerns over disruptions in shipments through the Strait of Hormuz ease. Sustained stability in energy prices will be supportive for India’s inflation outlook and external balances.” he said.
He added that investors will closely examine the minutes of the Fed’s June policy meeting to learn more about policymakers’ assessments of the economic outlook and the likely path of interest rates, following softer-than-expected US labor market data that strengthened expectations that the Fed would take a less hawkish tone.
Vinod Nair, Head of Research at Geojit Investments Limited, said that looking ahead, the direction of the market will be shaped by the US Federal Open Market Committee (FOMC) minutes, the start of the domestic earnings season and the progress of the monsoon period.
