Market Outlook and Upcoming Results
Market Outlook and Upcoming Results – October 2024
The Indian equity markets are buzzing with activity as the result season intensifies. Several top companies across diverse sectors are gearing up to release their quarterly earnings, which will likely drive short-term market momentum. Here’s a detailed look at the upcoming results and market outlook for October 2024.
#### **Upcoming Results (16th October – 19th October)**
In the upcoming days, several prominent companies will be announcing their earnings results. Below are the companies releasing their quarterly numbers along with their market capitalization as of 16th October 2024:
| **Security Code** | **Security Name** | **Company Name** | **Result Date** | **Market CAP (in ₹ Cr)** |
|——————|—————————-|—————————————-|—————–|————————–|
| 532977 | BAJAJ AUTO LTD. | Bajaj Auto Ltd. | 16-Oct-2024 | 319,750 |
| 540115 | LTTS | L&T Technology Services Ltd | 16-Oct-2024 | 56,091 |
| 526299 | MPHASIS LTD. | Mphasis Ltd. | 16-Oct-2024 | 55,744 |
| 500092 | CRISIL LTD. | Crisil Ltd. | 16-Oct-2024 | 34,224 |
| 500184 | HSCL | Himadri Speciality Chemical Ltd. | 16-Oct-2024 | 32,379 |
| 532375 | TIPSMUSIC | Tips Music Ltd | 16-Oct-2024 | 10,735 |
| 532218 | SOUTHBANK | South Indian Bank Ltd. | 16-Oct-2024 | 6,313 |
| 532626 | POCL | Pondy Oxides & Chemicals Ltd. | 16-Oct-2024 | 2,751 |
| 532268 | ACCELYA | Accelya Solutions India Ltd. | 16-Oct-2024 | 2,637 |
| 532974 | BIRLAMONEY | Aditya Birla Money Ltd. | 16-Oct-2024 | 944 |
In addition to the above, here’s a list of key results expected on **Friday, 18th October 2024**, and **Saturday, 19th October 2024**:
– **18th October 2024**: Jio Financial, Tata Consumer Products, ICICI Lombard, L&T Finance, MRPL, Aether, Mask Investments, Tejas Networks, Zee Entertainment, Jindal Saw.
– **19th October 2024**: HDFC Bank, Kotak Mahindra Bank, Tech Mahindra, UCO Bank, PSB, MCX, IndiaMart, NetWeb Technologies, RBL Bank, Lloyds Engg, Dalmia Bharat, PC Jeweller.
#### **Nifty and Bank Nifty Outlook (18th October 2024)**
The market experienced significant selling pressure in the previous sessions, and the Nifty index closed below critical support levels. The index ended at **24,750**, shedding over 200 points, and indicating that the market remains weak in the near term. The next support levels are pegged at **24,690** and **24,600**. A daily ‘Head and Shoulders’ pattern is visible on the Nifty chart, signaling potential medium-term downward pressure【23†source】.
Bank Nifty also faced correction, closing below **51,500**. Immediate support is around **51,000-50,900**. PSU banks, led by State Bank of India, showed relative strength, and traders should look for opportunities above **6,700** in this segment【23†source】.
#### **Conclusion**
The upcoming result season will play a key role in determining the market’s direction. With significant earnings reports lined up, particularly from large-cap companies like Bajaj Auto, L&T Technology Services, and HDFC Bank, investors should brace for volatility. It’s crucial to keep an eye on market support levels and follow a cautious, stock-specific approach amid this earnings-driven sentiment.
Investors should remain cautious and wait for signs of market reversals before making any aggressive investment decisions.
Comments are closed.