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Budgetary hopes, Q3 earnings to chart equities' course
TIWN
Budgetary hopes, Q3 earnings to chart equities' course
PHOTO : TIWN

Mumbai, Jan 17 (TIWN) Global cues along with domestic quarterly earning results and progress of the vaccine rollout programme will determine the trajectory of the Indian equities markets during the coming week.

Besides, volatile is expected to rise in the run-up to the Union Budget FY22 and high value proposition.  "The Nifty has given the first signs of reversing after a steep rise. Deteriorating advance decline ratio has also raised concerns over the last few days of the possibility of a formation of a short term top. 14,653-14,215 points are supported for the Nifty for the coming week," said Deepak Jasani, Head of Retail Research at HDFC Securities.  "Stock specific moves will continue based on results and other developments."  The week ahead will be heavily influenced by Q3FY21 corporate earnings as companies like Asian Paints, HDFC Bank, Mindtree, Hindustan Zinc and Mphasis are expected to announce their quarterly results.  "Banking and Finance sector will be in focus as major Banks and NBFCs are to release their quarterly results," said Geojit Financial Services' Head of Research Vinod Nair.  "The market can be volatile going forward, including concerns over the Union Budget. We suggest investors consider partial profit booking," said Nair.

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