US Fed FOMC, Q4 earnings, FII action among 10 factors to set D-Street mood this week
Nifty ended with weekly gains of 2% amid significant volatility. On Friday it ended in the red breaking its five sessions gaining streak. 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.
Equity markets will be shut for trading on May 1, Wednesday on account of Maharashtra Day.
Commenting on last week's action, Santosh Meena, Head of Research, 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).
Going ahead, FII activity remains a key factor to watch especially considering their already low holdings in the Indian market, he remarked.
Factors that are likely to impact movement when markets reopen this week:
Rupee ends little changed, posts best weekly gain since early February
US Fed FOMC
The Federal Reserve’s rate setting committee will begin a two-day meeting on April 30, Tuesday and the outcome of the meeting will come on May 1 where the Federal Open Market Committee (FOMC) is expected to leave rates unchanged. The Street will be keeping a track on the Fed commentary on the timing of the rate cut amid expectations of a 25 bps cut in June policy.
Q4FY2024 earnings
Over 200 BSE listed companies will announce their March quarter earnings this week and the most followed results are likely to come from Adani Enterprises, Adani Ports, Dabur India, Britannia
