In the coming week, the trajectory of domestic equities will be influenced by Q3FY24 earnings, including those of HDFC Bank and Reliance Industries. Global markets, corporate actions, and fund flows will also play a significant role. Investors will closely monitor the movement of global equities, particularly in China and Taiwan. Key macro-economic data to watch includes consumer price inflation in the UK and the US Fed s Beige Book.
Given the optimism at Dalal Street, in the coming week, the market may climb further higher to 22,000-22,100 levels on the Nifty 50, but intermittent consolidation can t be ruled out, with focus majorly on corporate earnings.
We are seeing green shoots again based on the performance in bookings of our consulting, in particular in Capco in quarter three visible improvement but possibly a slight positive sign that leads us to be more positive about the revenue trajectory.
India Business News: TCS shares surge 4% on Q3 results; TCS stock trading at Rs 3,884.30; Morgan Stanley upgrades to 'Overweight'; Motilal Oswal maintains 'Buy'; Nuvama in
Infosys Q3 results: The firm posted a consolidated net profit of ₹6,106 crore, down over 7 percent from ₹6,586 crore in the year-ago period. It has revised FY24 revenue guidance to 1.5-2.0 percent as against 1-2.5 percent earlier.