Markets weekahead: Earnings, inflation key for Indian shares
Reuters Market Eye - December quarter earnings and WPI inflation will be the key for Indian shares in the short term.
MCX-SX stock exchange launches equities trading. Volumes will be watched given its history of competition with the National Stock Exchange.
Dealers say any headline inflation reading of 7 percent or lower may lead to gains in shares on hopes of a March rate cut.
Also on watch, domestic institutional outflows where pace of selling has accelerated in 2013, relative to inflows from foreign investors.
KEY EVENTS/FACTORS TO WATCH
Saturday: Finance Minister P. Chidambaram, SEBI Chairman U.K.Sinha at the launch of MCX-SX stock exchange.
Monday: Earnings of Oil and Natural Gas Corp (ONGC.NS), Tata Power Co (TTPW.NS)
Tuesday: December IIP, January CPI, earnings of Hindustan Petroleum Corp (HPCL.NS), SAIL (SAIL.NS)
Wednesday: Bharat Petroleum Corp (BPCL.NS), Tata Steel (TISC.NS) earnings
Thursday: January WPI inflation, earnings of Dr.Reddy's Laboratories (REDY.NS), Tata Motors (TAMO.NS), State Bank of India, GAIL India (GAIL.NS), DLF (DLF.NS)
(Reporting by Abhishek Vishnoi)
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India's economic growth probably slowed to around 5 percent in the three months to September, slipping from 5.7 percent in the previous quarter, two senior finance ministry sources said, putting pressure on the central bank to cut interest rates. Full Article