Quarterly earnings, inflation data to steer mkts this week

New Delhi: Quarterly numbers from bluechips Axis Bank and Wipro and inflation data would play a key role in guiding stock market trend in the holiday-shortened week ahead, say experts.

Stock markets would be closed on Thursday and Friday for Diwali. Markets will open on Diwali (Thursday) for an hour for Muhurat trading session.

“This is a holiday-shortened week with the markets opening on Diwali for an hour for Muhurat session. Economic data is not much this week except for China?s third quarter GDP data and our WPI numbers. The general trend of the markets is largely expected to be positive,” said VK Sharma, Head Private Client Group & Capital Market Strategy, HDFC Securities.

WPI inflation data for September is due on Monday.

“The focus will continue to be on results in this month. Major companies which will announce July-September quarter earnings this week include ACC, Axis Bank, Bajaj Auto, Wipro and Ultratech Cement,” said Arpit Jain, AVP at Arihant Capital Markets.

Both the indices rose last week, with the Sensex adding 618.47 points, or 1.94 per cent – the biggest such weekly jump since July 14 when it read 660.12 points, or 2.10 per cent – and the NSE Nifty soared 187.75 points, or 1.88 per cent.