Trend in the equity market will be guided by a host of factors lined up this week, including inflation numbers, IIP data and quarterly earnings from IT majors, analysts said.
Global cues, movement of the rupee, Brent crude oil and foreign funds will also influence Dalal Street this week, they added.
"We have important macroeconomic numbers this week, as our IIP and CPI inflation will be announced on January 12. On the same day, China and the US will also come out with their inflation figures.
"The Q3 earnings season will kick off with IT major earnings this week, including TCS, Infosys and HCL Tech," said Santosh Meena, Head of Research, Swastika Investmart Ltd.
Last week, the Sensex lost 940.37 points or 1.55 per cent, while the Nifty declined 245.85 points or 1.36 per cent.
The Indian equity markets have begun the New Year on a slightly cautious note, in line with the global markets, continuing the trend visible in December 2022, said Milind Muchhala, Executive Director, Julius Baer India.
Concerns over inflation and unabated foreign fund outflows played spoilsport for the domestic equity market last week.
Investor risk sentiment took a blow post the release of the Federal Open Market Committee (FOMC) meeting minutes, which indicated further rate hikes in 2023 to tame inflation, said Vinod Nair, Head of Research at Geojit Financial Services.
"This week will mark the beginning of the earnings season and IT majors TCS, Infosys, HCL Tech and Wipro will announce their...
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