F&O expiry, Q4 results, Covid vaccine drive among top factors that may guide D-Street next week

Trading could be volatile in the forthcoming week as traders roll over positions in the F&O segment from the near month April series to May series. The April 2021 F&O contracts will expire on April 29, 2021.

Investors would continuously watch out government’s course of action along with progress on the vaccination drive. Starting May 1, anyone above 18 years old will be eligible for inoculation.

Q4 March 2021 results, global central banks policy decisions, the movement of rupee against the dollar and crude oil prices, trend in global stock markets will dictate trend on the bourses in the near term. Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will be monitored.

The key thing to watch out for in the near future would be the US bond yields because any rise in yields can take out the FII money from developing countries like India to western markets and could also be a risk for emerging markets currencies.

The Dollar Index, which measures the US currency against a basket of six peers, will also be closely watched.

India Inc will continue to report its March quarter earnings. ICICI Bank is scheduled to announce Q4 result on 24 April 2021.

HDFC Life Insurance Company, SBI Cards & Payment Services and Tech Mahindra will declare their Q4 results on 26 April 2021. Axis Bank and Britannia Industries will unveil their Q4 results on 27 April 2021.

Ambuja Cements, Bajaj Auto, Titan Company will declare their results for the quarter ended 31 March 2021 on 29 April 2021. IndusInd Bank will declare Q4 result on 30 April 2021.

On the coronavirus front, updates related to Covid-19 cases, vaccination drive, and state government actions will be closely watched. Total Covid-19 confirmed cases worldwide stood at 14,47,67,231 with 30,72,522 deaths. India reported 24,28,616 active cases of Covid-19 infection and 1,86,920 deaths while 1,36,48,159 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

On the political front, all eyes will be on the outcome of state assembly elections. Polls are underway in West Bengal. State Assembly Elections for 294 seats in West Bengal, 234 seats in Tamil Nadu, 140 seats in Kerala, 126 seats in Assam and 30 seats in the Union Territory of Puducherry is being held between March 27 and April 29. The counting of votes for all states will be held on May 2 and the results will be declared the same day.

Overseas, China will announce the NBS Manufacturing PMI and Non-Manufacturing PMI for April on 30 April 2021.

The Bank of Japan (BoJ) will announce its interest rate decision on 27 April 2021.

The US Federal Reserve (Fed) will announce its interest rate decision after its two-day policy meeting on 28 April 2021.

The United States Durable Goods Orders for March will be declared on April 26, 2021.

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