Benchmark share indices are
expected to move within a narrow range next week as investor’s
eye key economic data and
companies' earnings reports for Jul-Sep. Data on Consumer Price
Index inflation for September
will be released on Monday. We see it at 7.2% against 6.75% a
month ago.
IndusInd Bank and Reliance
Industries will detail their financial results for Jul-Sep on Monday.
We expect IndusInd Bank to post a
net profit of 4.17 bln rupees, up 26.23% on-year and see net
sales at 8.27 bln rupees, up 3.3%
on-year. Reliance Industries' net profit is seen at 53.75 bln
rupees, unchanged from a year ago
and net sales at 944.74 bln rupees, down 8.95% from a year
ago.
Other Nifty companies which will
detail their earnings next week are Bajaj Auto, Hero
MotoCorp, Tata Consultancy
Services, Axis Bank, HCL Technologies and Zee Entertainment
Enterprises.
Investors will also keep a close
eye on global developments. Any further fall in prices of crude
oil may fuel a fall in shares of
upstream oil companies. Cairn India is expected to be hit the most
if crude prices continue to slip.
The sentiment in the US, Asian and European markets will have
a bearing on Indian equities as
concerns surrounding the health of the global economy continue
to persist.
Bank shares are expected to
recover if data on industrial output and inflation turn out to be
positive. Shares of information
technology and pharmaceutical companies are expected to rise as well. Shares of fast moving
consumer goods companies may continue to fall next week.
