Earnings, global cues to guide markets in holiday-shortened week: Analysts

Quarterly earnings, global cues and foreign fund movement would continue to set the tone for the equity market in a holiday-shortened week ahead, analysts said. Stock markets will be closed on Tuesday for 'Gurunanak Jayanti'. "On the domestic front, the market will react to the last batch of Q2 earnings from companies like BPCL, Coal India, Tata Motors, Eicher Motors, Hindalco and Mahindra & Mahindra," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. Apart from this, institutional flows are playing a vital role because foreign investors have shown their interest in the Indian equity market, Gour added. After withdrawing funds in the last two months, foreign portfolio investors came back strongly in the first week of November and infused Rs 15,280 crore in Indian equities on hopes that the US Federal Reserve would go soft on rate hikes. On the results front, State Bank of India (SBI) on Saturday posted a 74 per cent jump in standalone profit to Rs 13,265 crore

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