New Delhi: Equity markets this week are likely to follow the quarterly earnings outcome of listed companies, pace of vaccination drive in the country and global market trends for further direction, according to analysts.
"In absence of any major event, participants will be closely eyeing the performance of global indices, US bond yields, movement of rupee against the US dollar, and crude oil prices.
Religare Broking Vice-President (Research) Ajit Mishra said, "Needless to say, COVID-19-related updates and progress of the vaccine drive will also be in focus."
On the earnings front, Bharti Airtel, Tata Motors, Indian Oil Corp, Havells, Hindalco and Federal Bank are some of the prominent names who will be announcing their results during the week along with several others, Mishra added.
The quarterly earnings from Canara Bank, JK Tyre & Industries, Havells India, JK Lakshmi Cement, JSW Steel and State Bank of India will also be watched by investors this week.
"Going forward, market will track the pace of vaccination, trajectory of active cases curve and management commentary of companies," Shibani Kurian, senior executive vice-president and head (equity research) at Kotak Mahindra Asset Management Co, said.
Investors would also track the Wholesale Price Index-based inflation data to be announced on Monday.
Samco Securities Head (Equity Research) Nirali Shah said, "Indian indices have shown sturdiness despite the increasing number of cases. However, sustainability at higher levels seems difficult if the situation aggravates."