The Indian stock market, which ended on a weak note last week, may see more selling in the coming week amid uncertainty about the global economic recovery on the back of recent disturbing news from Europe.
Activity is likely to be stock specific with quarterly earnings reports setting the trend.
Tata Consultancy Services, Bajaj Auto, Kotak Bank, Federal Bank and Rallis India are some of the key results next week. DCB Bank, NIIT Technologies, Bajaj Finance, CMC, MindTree, Zee Entertainment Enterprises and Reliance Industrial Infrastructure are among the other companies that are scheduled to annouce their quarterly results over the next few days.
Stocks from some of the sectors that had some positive announcements from the Budget, namely, infrastructure, hospitality, capital goods and realty, are likely to attract buyers at lower levels.
Information technology stocks may see some buying, buoyed by Infosys' fairly impressive results. TCS' results will provide cues as well.
The rupee's movements and the trend in crude oil prices will play a role as well setting the trend for the market.
On the economic front, the data on inflation based on wholesale price index for the month of June, will be released on Monday, July 14.