February 8, 2013 / 3:07 PM / 5 years ago

Markets weekahead: Earnings, inflation key for Indian shares

People watch a news channel displayed on a large screen on the facade of the Bombay Stock Exchange building, February 28, 2007.Arko Datta/Files

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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