Though Tehran and Tel Aviv have tried to play down Israel's alleged attack on Isfahan last week, investors are still wary about potential escalation of tensions in the Middle East. Though this along with the cues in the global markets, Brent crude oil and rupee's movement against dollar could drive the equity markets this week, one of the important factors that would dictate the Dalal Street trends will be the quarterly earnings of index heavyweights, said analysts.
Citing the feeble global cues and ongoing earnings season, Ajit Mishra SVP, Research, Religare Broking Ltd, told PTI, "Expect volatility to remain high this week too."
HDFC Bank has recorded a 2.11 per cent surge in consolidated net profit to Rs 17,622.38 crore for the quarter ending March against Rs 17,257.87 crore in the preceding quarter.
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, told PTI that earnings season and global trends will be under radar this week. "Index heavyweights like Hindustan Unilever, Maruti, and Bajaj Finance will announce their results. Investors would also track economic data points like manufacturing & services PMI data of the US, US Q1 GDP number, and Japan's policy statement," he added.
Echoing other analysts, Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd, told the new agency that investors will keep an eye on earnings of Tech Mahindra, Bajaj Finance, Nestle, Bajaj Finserv, HCL Technologies and Maruti.
– with inputs from PTI