Weekly Newsletter - Oct 9 2010

After five straight weeks of robust gains, the Indian market seems to be taking a breather. The sideways consolidation pattern may continue in the coming week too, as investors digest corporate earnings and a couple of key economic statistics in the form of IIP data and monthly WPI inflation report. August IIP data is due on Oct. 12 and monthly inflation data will be released on Oct. 14.



Among the top companies announcing results next week include the likes of IndusInd Bank, Sintex Inds, Castrol, Exide, UTV, LIC Housing Finance, Axis Bank, Karnataka Bank, DCB, Infosys, Infotech Enterprises and Rallis India.

Earnings are also due from a lot of US companies while in terms of global data points next week is less heavy. Important economic reports scheduled for next week are consumer sentiment, retail sales and FOMC minutes in the US; inflation and trade data in the US, Europe, and the UK.

Overall, the sentiment may remain a little subdued and individual stocks will continue to be in the spotlight. Avoid going on the offensive for the moment and wait for some more softening to pick up your favourite stocks.