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Jul 12, 2012, 08.23 AM IST
India kicks off a new earnings reporting season, with top two software services exporters, Tata Consultancy Services and Infosys , announcing their April-June results on Thursday.
Traders widely expect Infosys to cut its revenue guidance, given recent reports that global companies are cutting their IT spending.
Any news on government reforms such as on diesel prices or FDI in retail are also on traders' radar screens.
Global risk factors will be key, especially US markets reaction to monthly jobs data due out at 1230 GMT. The BSE Sensex rose 0.5% for the week ended on July 6, marking its fifth consecutive weekly gain. The Nifty rose 0.7% for the same week.
Meanwhile, the rupee is expected to consolidate further and head towards 55.70-56.00 per dollar next week, while bond yields are expected to hold in a range ahead of the factory output and inflation data due later in the week.
The data may have a more muted impact given widespread expectations the RBI will keep interest rates on hold on July 31, though it could influence expectations for future decisions.
The 10-year benchmark bond is expected to hold in a 8.15 to 8.25 percent band next week with the focus also on domestic debt supplies. Traders said they do not expect open market operations, due to the sharp easing in banking system liquidity.
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