Stock market outlook: Q2 results, macro data in focus; global trends and FII flows to guide investors’ sentiment this week

Quarterly earnings, a slew of macroeconomic data releases, and global market trends are set to drive Indian equities in a holiday-shortened week, analysts said. The domestic stock markets will remain closed on Wednesday for the Guru Nanak Gurpurab holiday.“The holiday-shortened week is expected to remain eventful, with multiple key data releases and major corporate earnings lined up. On the macroeconomic front, attention will turn to the final readings of the HSBC manufacturing PMI, as well as the HSBC services and composite PMI data, which will offer cues on domestic growth momentum,” said Ajit Mishra, SVP – Research, Religare Broking Ltd, PTI quoted.On the earnings front, several heavyweights are scheduled to announce quarterly results, including Bharti Airtel, Titan Company, Adani Enterprises, Adani Ports, InterGlobe Aviation, Mahindra & Mahindra, State Bank of India, Lupin, Bajaj Auto and Hindalco, he added.Mishra said that globally, developments related to trade deals and movement in key international indices would also be closely tracked for directional cues.Market experts noted that foreign institutional investors’ (FII) activity will be another key factor. FIIs turned net buyers in October, making a net infusion of Rs 14,610 crore after three consecutive months of outflows.“Markets are likely to take cues from a busy macro calendar this week, with a series of S&P Global manufacturing and services PMI readings for India and major economies set to provide fresh insights into global growth momentum. These data points, along with movements in the Indian rupee against the dollar, will play a crucial role in shaping investor sentiment and sectoral trends,” said Ponmudi R, CEO, Enrich Money, an online trading and wealth-tech platform.In the previous week, the BSE Sensex slipped 273.17 points (0.32%), while the NSE Nifty fell 73.05 points (0.28%), as profit-booking trimmed gains from earlier sessions.Vinod Nair, Head of Research, Geojit Financial Services, said, “The Indian markets wrapped up the last week of October with profit-booking as investors took some chips off the table after the sustained rally.”He added that markets would watch for India’s ongoing trade talks with the US and the corporate earnings season, which so far has delivered mixed results.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)