Q4 earnings, Covid update, macroeconomic data to dictate market trends next week

Local and global macroeconomic data, earnings, Covid-19 updates and global cues are some of the factors which will guide the domestic stock market next week. Besides, the movement of the rupee against the dollar and crude oil prices, the movement in global stock markets will also dictate the 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. Cipla, Dr Reddy’s Laboratories, L&T and Vedanta are scheduled to announce their Q4 results on May 14, 2021. Asian Paints and Lupin are scheduled to announce their Q4 results on May 12, 2021. Siemens will announce its quarterly result on May 11, 2021. Avenue Supermarts will declare its Q4 result on May 8, 2021.

In economic data, the Industrial Production and Manufacturing Production data for March will be released on May 12, 2021. The inflation rate for April is due on May 12, 2021. WPI inflation for April 2021 is due on May 12, 2021.

On the coronavirus front, investors would continuously watch out government’s course of action along with progress on the vaccination drive.

Overseas, China will announce the inflation rate for April on May 11, 2021. The US will announce the inflation rate for April on May 12, 2021. The US retail sales for April will be announced on May 14, 2021. In Europe, ZEW Economic Sentiment index for May will be released on May 11, 2021.

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