The Indian Indices had a relatively tepid day on the last trading day of the week on Friday, July 5. The major indices ended the day's proceedings flat, compared to the closing on the day before. The BSE Sesnex went below the 80,000 mark, dropping by a marginal 0.066 per cent or 53.07 points, to end the day at 79,996.60.
The NSE Nifty ended with a minor surge of 0.089 per cent or 21.70 points, closing at 24,323.85.
Nifty Bank also saw a decline of 0.83 per cent or 443.35 points, ending the day's proceedings at 52,660.35.
The BSE Sesnex went below the 80,000 mark, dropping by a marginal 0.066 per cent or 53.07 points. Nifty Bank also saw a decline of 0.83 per cent or 443.35 points, ending the day's proceedings at 52,660.35. | Representative Image
Q1 Earnings To Placate Markets
The next trading week is going to be interesting and is expected to be driven by some major factors. Firstly, the earning season is upon us and the Q1 earnings are expected to start trickling in on Monday, July 8.
This, needless to say, is bound to have an impact on the prospects of many of the listed companies and their stock prices, and by extension, it would also influence the indices at large.
Many major names, including TCS and HCL, announced last week that they will be declaring the Q1 results in the coming week. This announcement itself led to some commotion for some of the stocks, including the likes of TCS, which saw their shares decline.
The previous cycle of earnings was between April and May, when companies declared results for the final quarter or Q4 of FY24.
In addition to the Q1 earnings call, another major development came in the form of the announcement of the budget session for FY25. The government announced that the budget session will be held from July 22 to August. | Pixabay
The Union Budget On July 23
In addition to the Q1 earnings call, another major development came in the form of the announcement of the budget session for FY25. The government announced that the budget session will be held from July 22 to August.
The full budget will be presented by Finance Minister Nirmala Sithraman, who also presented the interim budget before the elections in February.
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This announcement also brings along with it a trance of expectations and anticipation from the budget, thereby potentially leading to developments at Dalal Street.
The Indian Rupee bettered its position slightly, with the Rupee closing at 83.48 against the US Dollar.
