Market experts believe that market participants will keep a close eye on India’s CPI data for December 2024, which is scheduled to be released on January 13. The data is expected to guide market expectations for economic sentiment ahead of interest rate decisions and RBI’s February policy review. According to market experts.
Observing investor sentiment for the coming week, Ajit Mishra, SVP, Research, RallyGear Broking Ltd, said the market’s focus will shift to corporate earnings, with HCL Tech, Reliance, Infosys Key players like Axis Bank, Wipro and others will make the announcement. Results.” Key macroeconomic data, including CPI and WPI inflation, will also be closely watched.
Additionally, ongoing foreign fund outflows and cues from US markets are expected to weigh on sentiment,” Mishra said. Manish Goyal, founder and director, Aquantus Wealth Advisory Services Pvt Ltd, said in a December WPI report. The data, scheduled for release on January 14, 2025, will provide key insights into changes in food, fuel and manufacturing prices after November’s moderation of 1.89 percent
According to Goyal, key sectors such as FMCG, agriculture, and energy could witness significant impacts as inflation shapes consumer behavior, input costs and corporate profits. February, like any rate cut loans. By making the economy cheaper, it could potentially help revive demand and stabilize economic growth in the coming months.
According to experts, select IT, FMCG and Pharma sectors appear relatively resilient, while the broader market and other sectors are likely to remain under pressure. correction period.
Sentiments were hit by poor quarterly updates and growing concerns about the HMPV virus outbreak in India. Although the index tried to recover mid-week, late session selling dragged the Nifty and Sensex to weekly lows of 23,431.5 and 77,378 respectively.
Apart from IT, most sectors came under significant pressure, with realty, energy and metals being the worst hit. The broader markets fared even worse, as mid-cap and small-cap indices fell sharply by 5.8 percent-7.3 percent.