Quarterly corporate earnings, the Fed’s interest rate decision and other global trends will be the biggest determinants of how the nation’s stock market moves during the holiday-shortened week, analysts said.
Besides, factors such as trading activity of foreign investors, global benchmark Brent crude oil and rupee-dollar trend would also influence trade.
Domestic stock markets would remain closed on Wednesday in view of Maharashtra Day.
“At the national level, the next set of Q4 earnings reports will determine stock-specific moves,” Santosh Meena, head of research at Swastika Investmart Ltd, said.
Monthly auto sales figures will be announced in early May and the next phase of voting will be important, he said.
-“On a global level, the results of the meeting of the Federal Open Market Committee on May 1 will be important. Economic data released by China and the United States, as well as developments in the global currency market, will also be factors to take into account.” Meena added.
Top corporate earnings announcements this week come from Tata Chemicals, Central Bank of India, IOC, Adani Power, Adani Enterprises, Adani Green Energy, MRF and Titan.
“Upcoming US Fed policy and US non-farm payrolls data will dictate the global market, while current fourth quarter earnings reports are poised to influence market dynamics interior,” said Vinod Nair, head of research at Geojit Financial Services.
“We expect market momentum to pick up with a focus on stock-specific stocks due to the ongoing earnings season and sector rotation at play,” said Siddhartha Khemka, Head of Research on Retail at Motilal Oswal Financial Services Ltd.
Last week, the benchmark BSE index advanced 641.83 points or 0.87 per cent, and the NSE Nifty climbed 272.95 points or 1.23 per cent.
