Foreign funds’ buying and selling exercise, month-to-month vehicle gross sales knowledge and international developments would additionally information market motion this week.
Markets would stay closed on Monday on account of ‘Maharashtra Day’.
The US Federal Reserve’s rate of interest choice, quarterly earnings of corporates and home macroeconomic knowledge will affect buying and selling within the fairness market in a holiday-shortened week forward, analysts stated.
Foreign funds’ buying and selling exercise, month-to-month vehicle gross sales knowledge and international developments would additionally information market motion this week, they added.
Markets would stay closed on Monday on account of ‘Maharashtra Day’.
“The international image remains to be muddled between extra hikes and recession. All eyes are on the Federal Open Market Committee (FOMC) assertion, which will probably be introduced on May 3, whereas the ECB will announce its rate of interest choice on May 4. Macroeconomic numbers will hold the market temper subdued within the close to time period.
“Aside from that, the Indian fairness markets are always receiving funding from FIIs, and Friday’s file shopping for of Rs 3,304 crore within the money market confirmed their confidence within the Indian market,” stated Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
In the domestic market, Q4 earnings and auto sales numbers will drive the movement this week. Tata Steel, Titan, Hero MotoCorp and HDFC Ltd are the few Nifty 50 companies that will declare their financial results this week, Gour added.
Among other earnings to be declared this week are from Adani Green Energy, Ambuja Cements, Tata Steel, UCO Bank, Adani Enterprises, Bharat Forge and Federal Bank.
“In the domestic market, the release of PMI numbers and quarterly earnings will sway investor sentiment in the upcoming sessions, along with the Fed policy announcement,” stated Vinod Nair, Head of Research at Geojit Financial companies.
Purchasing Managers’ Index (PMI) knowledge for manufacturing and companies sector will affect buying and selling out there.
“While the markets might have run up sharply over the previous few classes due to revival in FII shopping for curiosity, comparatively higher company earnings efficiency to this point, and falling crude oil costs, warning might prevail going forward and profit-taking may come into play,” Amol Athawale, Technical Analyst (DVP), Kotak Securities Ltd, said.
Last week, the BSE benchmark jumped 1,457.38 points or 2.44 per cent.
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