Earnings, global cues, pre-Budget expectations to drive markets this week: Analysts

Earnings from major companies such as HDFC, US Fed's interest rate decision and hopes of positive measures from Budget would drive sentiment in equity markets this week which may also witness volatile sessions amid derivatives expiry, according to analysts.

Participants would also keep an eye on spre of dely coronavirus in China and or countries, y ded. lethal virus has claimed 56 lives in China and spre to about a dozen nations.

"Going ahe, markets are likely to be volatile due to monthly F&O expiry just ahe of Union Budget that would be presented towards end of elongated week. Also, stock-specific action is likely to continue with ongoing results season which has been mixed so far.

Apart from se, investors would also watch out for US Fed and Bank of England's monetary policy," Motilal Oswal Financial Services, He - Retail Research, Siddhartha Khemka said.

He ded that on macro front, US Q4 GDP and India's fiscal deficit data would be released. Furr, heavyweights like SBI, HDFC, HUL, and Maruti Suzuki would be anuncing ir results this week which would also keep markets busy.

" Q3 result h solid expectations but actual results are marginally below expectation for sectors like IT and banks, leing to cautiousness in market. We feel that this cautious trend will be maintained in near-term since a lot has been factored in about Budget wish-list and expectation of revival in earnings growth, but actual Q3 results (has been) below par.

"Going ahe, market direction will depend on actual Budget anuncements and performance of Q3 result. Week ahe is eventful with Union Budget, US Fed and BoE policy meets," said Vid Nair, He of Research, Geojit Financial Services.

US Fed interest rate decision is scheduled for Thursday

"This week will be dominated by Union Budget but global cues and Q3 results will also have some impact on market. Coronavirus is a key worry for global markets because if situation becomes worse from here n it could result in short-term slowdown in global ecomy.

In terms of earnings, ICICI Bank will react to its Q3 results on Monday whereas HDFC Ltd, Maruti, Bajaj Auto will be key earnings for this week," Santosh Meena, Senior Analyst, TringBells said.

ICICI Bank on Saturday reported an over two-fold rise in its consolidated net profit at Rs 4,670 crore for December quarter, helped largely by Essar Steel recovery and a jump in its core income.

Markets would also track rupee-dollar trend and Brent crude oil movement. During week gone by, Sensex shed 332.18 points or 0.79 percent.

" expectations are high from Budget as market participants pin hopes for ditional measures from government to revive ecomy. This is likely to drive momentum in markets in coming sessions.

Furr, earnings anuncement from corporates would also induce stock-specific volatility," said Ajit Mishra, VP - Research, Religare Broking Ltd.