Next
week would be quite an eventful one for domestic equities with several index heavyweights
scheduled to release their results as the earnings season draws to close.
Also key economic data such as advance estimate of gross domestic product for 2013-14
(Apr-Mar) due later yesterday, and industrial production data for December, and Consumer
Price index-based inflation for January due on Wednesday will be watched.
The advance gross domestic product estimate for 2013-14 (Apr-Mar) will be released
later yesterday. India's economic growth is likely to marginally improve to
4.7% in
the current financial year ending Mar 31 from a decade low of 4.5% a year ago. The
GDP numbers would set the tone for next session and any adverse news from that front
could result in resumption of downtrend again. The government will present the railway
vote-on-account for 2014-15 (Apr-Mar) on Wednesday. On the global front, market
participants will keep a watch on the January non-farm payrolls data from US
due later
yesterday. This data will provide further clues on the recovery in the US
labour market.
In the backdrop of these major events, market participants recommend trading cautiously
in the market and stick to defensive bets. Yesterday
the index ended at 6063.20, up 26.90 points or 0.4% from Thursday. The S&P BSE's
30-scrip Sensex closed at 20376.56, up 65.82 points or 0.3%. MCX Stock Exchange's
SX40 ended at 12212.28, up 42.20 points or 0.3%. Apart from the above mentioned
events, market participants will also closely eye the quarterly index review announcement
by MSCI Inc on Wednesday. Companies detailing earnings on Monday include
BGR Energy Systems, CEAT, Dhanlaxmi Bank, Essar Oil, IFCI, Indraprastha Gas,
Jaiprakash Associates, NMDC, and Tata Motors. Other
major companies detailing earnings next week are Dr. Reddy's Laboratories, Tata Steel,
Bharat Petroleum Corp, Cipla, Coal India, Hindalco Industries, Sun
Pharmaceutical Industries,
Mahindra & Mahindra, State Bank of India, Hindustan Petroleum Corp, Oil India,
Indian Oil Corp, Financial Technologies, Steel Authority of India, and Unitech.
Tata Motors' consolidated net profit is likely to double to 34.77 bln rupees in
the quarter
ended Dec 31 on continued good performance of UK-based subsidiary Jaguar Land
Rover. However, the talk is that Tata Motors may report significantly higher
than expected
profit. Yesterday, the stock rose 6.4% to end at 384.45 rupees after the
world's largest
steel producer ArcelorMittal gave positive earnings growth outlook for 2014.
