Q4 results, macro data among top 8 factors that may guide D-Street next week

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Fourth quarter results, macroeconomic data, trends in global stock markets, the movement of rupee against the dollar and crude oil prices will dictate trend on the bourses in the near term. Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will be monitored. Markets will remain closed on April 14 on account of Ambedkar Jayanti.

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 U.S. currency against a basket of six peers, will also be closely watched.

India Inc is geared up to report its March quarter earnings from next week onwards with IT bellwether Tata Consultancy Services (TCS) scheduled to kick start the results season from Monday, April 12. Thereafter, Infosys, Wipro and Mindtree will report Q4 numbers on April 14, 15 and 16, respectively.

As per reports, India Inc is expected to report high double-digit growth in revenue and one of the highest quarterly profits in the fourth quarter of 2020-21 led by a surge in prices of metals and energy and a continued better show by lenders.

On the macro front, the Industrial Production and Manufacturing Production data for February will be released on 12 April 2021. Inflation rate for March will be declared on the same day. WPI inflation for March is due on 14 April 2021.

Updates related to COVID-19 will be closely watched. Also on the radar will be news on Covid vaccine development. From here on the pace of the improvement of economic indicators along with outcomes of a possible vaccine or cure for COVID-19 would determine the movement of the market.

Total COVID-19 confirmed cases worldwide stood at 13,39,71,287 with 29,02,493 deaths. India reported 9,79,608 active cases of COVID-19 infection and 1,67,642 deaths while 1,19,13,292 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Overseas, China’s first quarter gross domestic product (GDP) data will be announced on 16 April 2021. US will announce inflation rate for March on 13 April 2021. The US Retail Sales for March will be announced on 15 April 2021.

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