Foreign fund trading activity, monthly auto sales data and global trends would also guide market moves this week.
Markets would remain closed on Monday due to ‘Maharashtra Day’.
The U.S. Federal Reserve’s decision on interest rates, quarterly corporate earnings and national macro data will influence stock market trading in a holiday-shortened week, analysts said.
Foreign fund trading activity, monthly auto sales data and global trends will also guide market moves this week, they added.
Markets would remain closed on Monday due to ‘Maharashtra Day’.
“The overall picture is still muddled between more bulls and recession. All eyes are on the statement from the Federal Open Market Committee (FOMC), which will be announced on May 3, while the ECB announces its decision on interest rates. interest on May 4. The macro numbers will keep the market sentiment going in the near term.
“Apart from this, Indian equity markets are constantly receiving funding from FIIs, and Friday’s record buying of Rs 3,304 crore in the spot market showed confidence in the Indian market,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Domestically, fourth quarter earnings and auto sales numbers will drive the move this week. Tata Steel, Titan, Hero MotoCorp and HDFC Ltd are the few Nifty 50 companies that will report their financial results this week, Gour added.
Other earnings to report this week include 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 influence investor sentiment over the coming sessions, as well as Fed policy announcement,” said Vinod Nair, head of research at Geojit. Financial Services.
The Purchasing Managers Index (PMI) data for the manufacturing and services sector will influence trading in the market.
“While markets may have risen sharply in recent sessions on renewed interest in FII buying, relatively better corporate earnings performance so far and falling oil prices crude, caution may prevail going forward and profit taking could 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%.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
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