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Inflation, Q2 results to affect stocks: Experts

The stock markets are likely to see choppy trading this week as investors will be influenced by September inflation data and a bunch of second quarter corporate results, say analysts.

Market experts said the focus has turned to wholesale inflation data which is scheduled for Monday release as it may decide Reserve Bank's next move when it meets for the second quarter monetary policy review on October 30. On Friday, consumer inflation for September showed signs of easing.

‘Inflation data will come out on October 15, and will be closely watched. Also, quarterly results have started and will be in focus for deciding further market trend,’ Rakesh Goel, Vice President, Bonanza Portfolio said.

According to Nomura India, WPI inflation is at 7.87 per cent in September from 7.55 per cent in August. Monday will also see Reliance Industries, which has significant influence over 30-share Sensex, declaring its Q2 numbers. Other major earnings slated to hit this week include Axis Bank [15 October], HCL Technologies [17 October], ACC, Ambuja Cement [October 18], ITC, TCS [19 October] and Bajaj Auto, UltraTech Cement [20 October]. Analysts said the second quarter earnings from RIL will be the key event to watch out for in the near-term. Alex Mathews, Head Research, Geojit BNP Paribas Financial Services said: ‘Investors are waiting for inflation data. Besides the next trigger for markets will be RIL's result.’ The BSE benchmark Sensex last week snapped a five-week winning spree by tumbling 263 points.

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