Analysts said quarterly earnings, global trends and trading activity from foreign investors will drive stock markets this holiday week.

There will be a business holiday on January 22, the Maharashtra government has declared a holiday in connection with the consecration of the Ram temple in Ayodhya.

Stock markets will also remain closed on Friday on the occasion of Republic Day.

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“US GDP data as well as interest rate decisions from BOJ (Bank of Japan) and ECB (European Central Bank) are expected to boost market dynamics,” said Vinod Nair, head of research, Geojit Financial Services.

On the third quarter results front, Axis Bank, JSW Energy, Bajaj Auto, DLF, ACC and JSW Steel will announce their earnings this week.

“It is a short trading week after the holiday on Monday and Friday. Traders should remain cautious as the earnings season will be in full swing, leading to massive stock-specific activities. Furthermore, interest rate decisions from the BOJ and ECB are due this week along with US GDP and PMI data, which will have an impact on the global rate cut trajectory,” Siddharth Khemka, head – retail research, Motilal Oswal Financial Services Ltd., said.

Last week, the 30-share BSE benchmark fell 1,144.8 points or 1.57 per cent. NSE and BSE held normal trading sessions on January 20.

“Expectations over the upcoming Budget may drive stock and sector-specific movements. Globally, the focus will be on Japan’s monetary policy and US economic data, with a continued eye on geopolitical developments,” said Santosh Meena, head of research at Swastika Investmart Ltd.

Meena said, last week the market witnessed continued volatility, with Nifty and Sensex ending with heavy losses of over 1 per cent, which was further compounded by the notable underperformance of Bank Nifty, mainly due to HDFC Bank post-earnings. There was a significant decline in the shares.

He said aggressive selling by foreign institutional investors (FIIs) after HDFC Bank’s results added further pressure on the overall market.

Trading patterns of global oil benchmark Brent crude and rupee-dollar trends will also impact trading in the markets.

“The third quarter earnings season will be in focus as some of the major companies like Axis Bank, Bajaj Auto, Canara Bank, CEAT, IOC, Tata Steel, ACC, JSW Steel and many others will announce their quarterly numbers. Arvinder Singh Nanda, senior vice-president, Master, said the market will also react to domestic and global events, FII (foreign institutional investors), DII (domestic institutional investors) investment patterns, movement of the rupee against the dollar and crude oil prices. Capital Services.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)