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Share indices may start on a weak note next week following the shocking 0.6% rise in the Index of Industrial Production for August against expectations of a 2.4% growth. Action is likely to be stock specific with investors keenly eyeing Jul-Sep earnings of index heavyweight Reliance Industries, due after market hours on Monday. Developments in the US, where the lawmakers are showing signs of reaching an agreement over raising of the debt ceiling, will also be keenly watched. The US will exhaust room to borrow on Thursday unless the US government's debt ceiling is raised. Key economic data will also be in focus next week as India's Central Statistics Office will detail inflation data based on the Consumer Price Index (Combined) for September on Monday. India's inflation rate is likely to rise marginally to 9.60% in September from 9.52% in August, a Cogencis poll showed. The commerce and industry ministry will also release headline inflation data for September, based on the Wholesale Price Index, on the same day. A Cogencis poll showed that India's headline inflation rate is likely to ease marginally to 6.0% in September from 6.1% in the previous month. However, the underlying bias for the market is positive next week as Nifty ended near the 6100-mark today. Other constituents of Nifty reporting Jul-Sep earnings next week include Tata Consultancy Services, Bajaj Auto, HDFC Bank, IndusInd Bank, HCL Technologies, Larsen & Toubro and Axis Bank.
Share indices may start on a weak note next week following the shocking 0.6% rise in the Index of Industrial Production for August against expectations of a 2.4% growth. Action is likely to be stock specific with investors keenly eyeing Jul-Sep earnings of index heavyweight Reliance Industries, due after market hours on Monday. Developments in the US, where the lawmakers are showing signs of reaching an agreement over raising of the debt ceiling, will also be keenly watched. The US will exhaust room to borrow on Thursday unless the US government's debt ceiling is raised. Key economic data will also be in focus next week as India's Central Statistics Office will detail inflation data based on the Consumer Price Index (Combined) for September on Monday. India's inflation rate is likely to rise marginally to 9.60% in September from 9.52% in August, a Cogencis poll showed. The commerce and industry ministry will also release headline inflation data for September, based on the Wholesale Price Index, on the same day. A Cogencis poll showed that India's headline inflation rate is likely to ease marginally to 6.0% in September from 6.1% in the previous month. However, the underlying bias for the market is positive next week as Nifty ended near the 6100-mark today. Other constituents of Nifty reporting Jul-Sep earnings next week include Tata Consultancy Services, Bajaj Auto, HDFC Bank, IndusInd Bank, HCL Technologies, Larsen & Toubro and Axis Bank.
