Auto and two-wheeler stocks would be on watch as Hero MotoCorp (HROM.NS), Mahindra & Mahindra (MAHM.NS) announce quarterly earnings. State-run bank shares would take cues from State Bank of India’s results.
KEY EVENTS/FACTORS TO WATCH
Monday: Power Grid Corporation of India results; HSBC Markit Services PMI
Tuesday: RBI policy review; Hero MotoCorp (HROM.NS) earnings
Wednesday: Apollo Tyres results
Thursday: Jubilant Foodworks earnings
Friday: Mahindra and Mahindra, State Bank of India earnings
Lower-than-expected corporate results, weak global sentiment and profit-booking pulled down India’s benchmark stock indices by over 2.4 per cent during the week (between July 25 and August 1). The Nifty opened the week at 7,792.90, touched a high of 7,799.90 the same day, but traded below these levels throughout the week. It was at 7,603 at the end of trading on Friday, down 190 points from the start of the week. The steepest fall was seen in the last two trading sessions.
Similarly, the BSE Sensex opened the week at 26,173.47 points, made a high of 26,181 the same day, but ended the week 693 points, or 2.65per cent, lower.