NEW DELHI: The upcoming week is expected to be driven by a mix of domestic and global triggers, with investors tracking the progress of the earnings season, inflation data, geopolitical developments in West Asia and movements in crude oil prices, analysts said.The June quarter earnings season is set to gather momentum as several major companies, including HCL Technologies, Tech Mahindra, Union Bank of India and Federal Bank, are scheduled to announce their results. Analysts said corporate earnings and management commentary will be closely scrutinised for cues on business outlook and sectoral performance.Ajit Mishra, senior vice president (research) at Religare Broking, said investors will also keep a close watch on key macroeconomic indicators due this week, including June consumer price index (CPI) inflation, wholesale price index (WPI) inflation and the latest foreign exchange reserves data.“The Q1 FY27 earnings season will gather pace, with management commentary expected to play a pivotal role in shaping sectoral trends and earnings expectations,” Mishra said.He added that global developments, particularly the evolving US-Iran geopolitical situation and its impact on crude oil prices, will remain key factors influencing market sentiment.Santosh Meena, Head of Research at Swastika Investmart, highlighted another factor saying, “India’s Consumer Price Index (CPI) inflation will be released on Monday, followed by the Wholesale Price Index (WPI) on Tuesday”, adding that market participants will closely monitor monsoon developments alongside the macroeconomic data.Globally, investors will also track US inflation numbers, with consumer price inflation data due on Tuesday and producer price inflation data on Wednesday, as both are expected to influence expectations around the US Federal Reserve’s interest rate trajectory.Foreign institutional investor (FII) activity will remain another key monitorable after overseas investors turned net buyers of Indian equities this month. After remaining net sellers for four consecutive months, FIIs have invested more than Rs 15,157 crore in Indian equities so far in July, supported by improving domestic macroeconomic indicators, a relatively stable rupee and improved global risk appetite.Domestic benchmark indices ended last week on a subdued note. The BSE Sensex fell 194.52 points, or 0.25%, during the week, while the NSE Nifty declined 63.95 points, or 0.26%.
