Week Ahead: Inflation data, Q4 Results, FII activity, global cues among key market triggers this week

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massive outflows by foreign investors and the significant rise in the market's volatility index. Majority of the analysts say that weak sentiments will likely continue till the election results in the absence of any major positive triggers. In the third week of May, investors will keenly eye the ongoing the January-March quarter results for fiscal 2023-24 (Q4FY24), domestic and global macroeconomic data, foreign fund outflows, crude oil prices, and global cues.

Domestic equity benchmarks declined two per cent during the past week, logging their worst since mid-March and snapped two straight week of gains, primarily influenced by weak domestic signals. The negative sentiment prevailed from the outset, exacerbated by a continuous rise in the India VIX, indicating heightened volatility. Also Read: Stock Movers | Tata Motors, HDFC Bank among top 10 Nifty 50 stocks that swung 3-9% in first 7 sessions of May The sell-off in certain major stocks in response to their earnings contributed to the downward pressure as the week unfolded.

Ultimately, both Nifty 50 and Sensex closed near their lowest points for the week at 22,055.20 and 72,664.47 respectively. Major sectors such as financials, energy, and metals recorded significant losses, while FMCG, automotive, and IT sectors demonstrated resilience, mitigating the overall impact. Broader indices also experienced declines ranging from 2.7 per cent to five per cent.