Indian Stock Market News: While Indian equities saw a flat closing for the week to January 5, 2024, the upcoming week is expected to be impacted by several measures such as 3Q earnings season, date related to inflation, and several other triggers impacting the individual stocks.
Before jumping onto the expected performance for the next week, readers should know how the indices performed in the previous week.
Coming to the Indian stock market news, on Friday, frontline equity indices, Sensex and the Nifty 50, closed the session with gains for 2nd consecutive session. BSE Sensex ended the day with 179 points, or 0.25% higher, to close at ~72,026.15 levels. Nifty50 ended session at ~21,710.80 levels, exhibiting a rise of ~52 points, or ~0.24%. For the week, BSE Sensex was marginally down by ~0.21% and Nifty50 saw modest gains of ~0.05%.
In the upcoming week, the Indian stock market news is expected to be dominated by several macro data points. Talking about Red Sea crisis, it continues to persist with Houthi rebels continuously targeting commercial ships present in the Red Sea as Israel-Hamas conflict continued to escalate.
Apart from this, Bureau of Labor Statistics is expected to publish the US Consumer Price Index (CPI) on 11th January.
Will there be a soft landing for the overall US economy? How this release will impact the US Fed’s decision about the rate cuts?
Well, projections from the economists exhibit ~0.3% month-on-month rise in headline CPI for the month of December. On the similar note, core CPI, excluding volatility in food and energy prices, should show comparable 0.33% monthly uptick.
Coming to the commodities, Oil prices saw a significant uptick on Friday. U.S. Secretary of State Antony Blinken’s diplomatic efforts in the Middle East focused on moderating tensions due to Israel-Hamas conflict supported the increase in oil prices. Brent crude futures ended the day higher by rising $1.17, or 1.51%, touching ~$78.76 per barrel. Meanwhile, the US West Texas Intermediate crude futures closed the day by rising $1.62, or 2.24%, to $73.81.
In the upcoming week, ~65 companies are expected to release their results between 8th January – 13th January. Among Nifty 50 companies, TCS and Infosys are expected to released results on 11th January, while HCL Tech is slated to release results on January 12.
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