Israel-Iran conflict, Q4 earnings among 11 factors that will steer D-Street this week
Nifty 50 ended with weekly gains of 0.4% amid significant volatility and a sell-off in bluechip stocks on Friday after concerns of greater scrutiny on investments done from Mauritius soured D-Street sentiments. When markets resume trading on Monday, a host of important domestic and global events lined up during the holiday-truncated week are likely to impact them.
Commenting on last week's action, Santosh Meena, Head of Research, at Swastika Investmart, said that Nifty surrendered most of its gains on Friday dragged by US inflation concerns, geopolitical tensions, and selling by Foreign Institutional Investors (FIIs).
The upcoming week promises to show top action with the Iran-Israel conflict taking center stage along with the earnings season which kicked off with the announcement of earnings by Tata Consultancy Services (TCS), Meena said. Oil prices, China GDP data, US retail sales figures, and movements in US bond yields and the dollar index (DXY) will be important macroeconomic events that may influence market sentiments, he opined.
Indian markets will be closed on April 17, Wednesday on account of the Ram Navami holiday.
Factors that are likely to impact movement when markets reopen this week:
1) General Election
Voting will kick off for the 18th Lok Sabha on April 19, Friday, where 102 constituencies in 21 states and union territories will vote to elect their Member of Parliament.
2) Q4 earnings
«Earnings season in India kicked off on Friday with the announcement of quarterly earnings of TCS. This
