Trading in the stock market will continue to be guided by the ongoing quarterly earnings season, with some blue-chips like Wipro and Bharti Airtel scheduled to announce their results this week, say experts.
Trading in the stock market will continue to be guided by the ongoing quarterly earnings season, with some blue-chips like Wipro and Bharti Airtel scheduled to announce their results this week, say experts.
Key factors such as movement of the rupee and crude oil prices would also be keenly watched for further cues, they added.
HCL Tech, Bajaj Auto, Kotak Mahindra Bank and BHEL are among the other companies slated to announce their quarterly numbers this week.
"The ongoing turmoil led by financial crunch in the domestic economy, global risk-off and worries over upcoming elections are likely to maintain it's burden in the equity market.
"At the same time, it is possible that a good portion of the above mentioned risk factors have been digested by the market and the upcoming impacts will depend on developments like stability in global bond yield and trade war," said Vinod Nair, Head of Research, Geojit Financial Services.
Over the past week, the BSE key index Sensex fell by 418 points to close at 34,315.63 points Friday.
NBFC counters would also be watched amid liquidity concerns that has hit investor sentiment. Trading in the equity market may see volatility amid derivatives expiry later this week.
Meanwhile, Mutual funds' holding of banking stocks declined by over Rs 21,600 crore to Rs 1.88 lakh crore in September, driven by the correction in equity markets.
Overall deployment of equity funds in bank stocks stood at Rs 1,88,620 crore at the end of September as compared to Rs 2,10,251 crore in the preceding month, as per data available from the Securities and Exchange Board of India (Sebi).
This was the lowest level of deployment since June, when equity funds' exposure to bank stocks stood at Rs 1.87 lakh crore. In May, it was at Rs 1.89 lakh crore.
In percentage terms, exposure to banking stocks was at 19.78 per cent of equity AUM last month as against 20.21 per cent in August.
"The fall in mutual fund (MF) exposure to banks is more driven by market correction than by any significant reduction by mutual funds. In fact MFs have more or less maintained their exposure in banks compared with six months ago (19.78 per cent in April) adding select banks," said Viday Bala, head of mutual fund research at FundsIndia.com.
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 "Earnings to drive stock markets; oil, rupee also to be watched: Experts")
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