Earnings, Parliament session key for stock markets this week: Experts

NEW DELHI: Stock markets would largely be dictated this week by corporate earnings from blue-chip firms such as Infosys, RIL and HDFC Bank, as also by the progress of monsoon and proceedings in Parliament over key reform bills, say experts.

Besides, investment trend by foreign investors, movement of rupee against the dollar and crude oil prices will also be key factors determining the trend on the bourses.

"Near term major trigger for the market is the June 2015 quarter corporate earnings. Big index heavyweight companies including Infosys, HDFC Bank, Hindustan Unilever, Bajaj Auto, Lupin, Wipro, Axis Bank and Reliance Industries are next to announce their earnings this week.

"Of course, the focus will be on guidance from the company managements on outlook for the remaining part of the year and for the next year," said Vikas Singhania, Executive Director, Trade Smart Online.

Market analysts said that on the political front, developments in the monsoon session of Parliament regarding the fate of Land Bill will be closely watched.

The monsoon session of Parliament will begin from July 21.

Experts said that progress of monsoon rains will also dictate trend on the bourses.

A greater part of the country has received excess/normal rainfall from June 1 to July 15, according to the India Meteorological Department.

The 30-share benchmark Sensex ended at 28,463.31, a gain of 801.91 points, or 2.90 per cent, last week.