Macro data, global factors to hog limelight in equity markets this week: Experts

Mumbai, Nov 11: Earnings, crude oil price movement and rupee’s trajectory will be among the key factors that will drive market direction this week.
Over 2,300 companies on the BSE that will be declaring their earnings for the September quarter. Along with it, drop in crude oil prices along with rupee’s strength will be keenly watched by investors ahead.
Last week, equity markets put up a subdued performance, with the Sensex and Nifty gaining around 0.4 percent. On Friday, the market closed a rangebound session on a sombre note, but there was some outperformance by midcaps.
“Early earnings releases this week will dictate market trend in the following days along with rupee movement against the dollar and crude price movement. On the economic front, India’s industrial production data for September and all-India general Consumer Price Index (CPI) inflation for October will be declared on Monday. While inflation data based on Wholesale Price Index (WPI) for October will be announced on Wednesday,” Ketan Ranga, Senior Research Analyst at Equity99, said in a statement.
Over 2,350 BSE companies to declare Q2 earnings
Corporate earnings will be in focus this week as over 2,350 companies listed on the BSE will be declaring their earnings.
Among the key ones to watch out are: Apex Frozen Foods, Aster DM Healthcare, Aurobindo Pharma, Bank of India, Britannia Industries, Coal India, Eicher Motors, Godrej Industries, Hathway Cable, Jet Airways, UCO Bank, Apollo Tyres, Ashok Leyland, Corporation Bank, Gati, Lemon Tree Hotels, Mahanagar Gas, NMDC, Novartis, Sun Pharmaceutical Industries, Tata Steel, CESC, Cox & Kings, Future Retail, GTPL Hathway, Housing Development & Infrastructure, IDBI Bank, Indian Hotels, JK Lakshmi Cement, Mahindra & Mahindra, Max Financial, Mahanagar Telephone Nigam, Prabhat Dairy, Rain Industries, Siemens, Videocon and United Breweries.
Titan result reaction
Investors will react to the Q2 result declared by Titan Company. The company after market hours on November 9 reported a 2.9 percent year-on-year growth in net profit at Rs 314.4 crore.
Revenue grew 26 percent at Rs 4,406.8 crore. Operating profit grew 5 percent at Rs 467.1 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) margin, however, fell to 10.6 percent as against 12.7 percent.
Jewellery and watches revenue grew 28.5 percent to Rs 3,582.1 crore and 17 percent to Rs 675.7 crore, respectively. Eyewear revenue grew 19 percent to Rs 120 crore.
Macro data
The key macro data points for D-Street include CPI for October, industrial production for September, as well as manufacturing output data for September on November 12.
WPI data for October will also be declared on November 14. Inflation data becomes key for the market as it could gauge Reserve Bank of India’s (RBI) stance and possible action on the interest rate front.
Trade war cues
Trade war concerns between the US and China have dominated cues for the market for a greater part of this year. While both Beijing and Washington DC have attempted to hold talks, the results have largely been negative, which has led to a lot of nervousness among investors.
However, there are signs of likely talks between the two nations to resolve the trade war issue.
Asserting that US-China bilateral trade is ‘critical to the world economy’, a top Chinese diplomat said Beijing has kept its door open for trade talks with the Trump administration, as the two top global economies are locked in a trade war.
Addressing a joint press conference on November 9, Chinese State Councillor Yang Jiechi said, “According to the US-China Business Council, trade and economic relations with China help every American family save $850 annually and creates as many as six million jobs in this country.”