From CPI-IIP data to Q4 earnings results of companies will decide the movement of the market

The market will remain bullish next week as well: From CPI-IIP data to Q4 earnings results of companies will decide the movement of the market

Apr 9, 2023 - 17:08
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From CPI-IIP data to Q4 earnings results of companies will decide the movement of the market

The Indian stock market can see a boom this week as well. According to analysts, in this upcoming week, the earnings results of many companies including TCS, Infosys and HDFC Bank are going to come in Q4, which the market will be watching.
In this week of four trading sessions (April 10 to 13), apart from global trends, the Index of Industrial Production (IIP), Consumer Price Index (CPI) inflation data and monthly auto sales data will also determine the market move.
Apart from this, foreign funds flow, rupee movement and crude oil price performance will also play an important role in setting the tone of the market. On the other hand, on April 14, on the occasion of Dr. Babasaheb Ambedkar Jayanti, trading in the Indian market will remain closed.
The IIP data for the month of February will be released on April 12. India's industrial production is set to grow by 5.2% year-on-year in January 2023, up from 4.3% in December 2022. The CPI inflation data for March 2023 will also be announced on April 12 itself. The CPI had increased by 0.17% in February compared to January the previous month.
On the global front, investors will be eyeing some economic data from the US, the world's largest economy. The core Inflation Rate and FOMC Meeting Minutes will come on April 12th. Data on producer price inflation and initial jobless claims will be released on April 13. On April 14, data on retail sales, industrial production, import-export data, Michigan consumer sentiment and Baker Hughes's total rig count will come.
Last week, there was trading in the stock market only for three days. During this, both Sensex and Nifty saw gains. The stock markets were closed on Tuesday (April 4) on account of 'Mahavir Jayanti' and on Friday (April 7) 'Good Friday'.
The 30-share BSE Sensex was up 841.45 points or 1.42% during the week. On the other hand, on Thursday (April 6), the Sensex climbed 143 points to close at 59,832. At the same time, the Nifty climbed 42 points to reach the level of 17,600.

Muskan Kumawat Journalist & Writer
Electronics Special
Electronics Special