Q4 earnings, global cues, Covid updates among key factors that may guide market next week
On the coronavirus front, investors would continuously watch out government's course of action along with progress on the vaccination drive.
Local and global macroeconomic data, March quarter earnings, Covid updates and global cues are some of the key factors which may guide the stock market in the coming week.
Besides, the movement of the 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. Bharti Airtel will declare its Q4 result on 17 May 2021. Tata Motors will announce its Q4 result on 18 May 2021.
HPCL will announce its Q4 result on 20 May 2021. IOC will declare its Q4 result on 19 May 2021. Hindalco Industries and Shree Cement will announce their Q4 results on 21 May 2021.
On the coronavirus front, investors would continuously watch out government’s course of action along with progress on the vaccination drive.
Total Covid-19 confirmed cases worldwide stood at 16,11,88,177 with 33,44,737 deaths. India reported 37,04,893 active cases of Covid-19 infection and 2,62,317 deaths while 2,00,79,599 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
On the macro front, the government will unveil data on inflation based on the wholesale price index for April on 17 May 2021. Overseas, China will announce Loan Prime Rate for 1 year and 5 years on 20 May 2021.
Japan will declare inflation data for April on 20 May 2021.
In the US, the FOMC minutes of the recently concluded meeting will be unveiled on 19 May 2021.
In Europe, Eurozone GDP (Q1, 2nd estimate) will be announced on 18 May 2021.
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