The third trading week of 2023 will kick off at the Indian stock market on Monday. In the upcoming week, the market and investors will be focusing on third-quarter earnings posted by banking and financial entities.
Several companies belonging to Fast moving consumer goods sector will also announce their earnings performance for the last quarter.
Q3 earnings – Banking and Financials
IndusInd Bank is set to announce earnings and financial results for the third quarter on 18th January, Tuesday. Following that the banking sector will witness the announcement of Q3 earnings performance by ICICI Bank and Kotak Mahindra Bank. Both banking companies will release third-quarter earnings and financial results towards the weekend on January 21, 2023.
The biggest private lender in the country, HDFC Bank published the Q3 financials on Friday. HDFC Bank posted a year-on-year net profit growth of 18.5 percent.
Increased income from higher interest rates helped the bank achieve huge growth in net profit. Experts are expecting markets to react to the third-quarter performance of HDFC Bank.
Other major Q3 earnings release
Giants of the FMCG sector, Asian Paints, and Hindustan Unilever Ltd will release third-quarter earnings on 19th January. With increasing interest rates and above the normal inflation rates, the market will be closely looking at the financial performance of FMCG companies over the past 3 months.
On January 20, Multinational conglomerate Reliance Industries will announce quarterly financial results for Q3 of the financial year 2022-23. JSW Cements are also set to release its earnings report on January 20.
Macroeconomic factors
In the upcoming week, investors will be closely watching Wholesale Price Index (WPI) Inflation report which is scheduled to be released on 16th January.
Price movements in the market will also largely depend upon the trends followed by major capital markets in the United States and Europe.
Various analysts are of the opinion that in the coming days, the performance of the Indian stock market will depend upon global news flows and steps taken by various governments to tackle the crisis in their domestic economies.
Performance of Foreign Institutional investors
The market will be closely watching whether Foreign Institutional Investors (FIIs) continue their selloff trend in the Indian markets. FIIs sold ₹9,605.64 crore worth of equities in Indian markets past week.
Meanwhile, domestic Institutional investors became net buyers in the past week as good Q3 financial performance by IT companies and the easing economic crisis encouraged DIIs to pump money into the markets.
