Quarterly earnings from IT majors TCS and Infosys, macroeconomic information bulletins, and world tendencies can be the numerous guiding elements for the fairness market in a holiday-shortened week forward, analysts stated.
Stock markets might be closed on Thursday for Mahavir Jayanti and Dr Babasaheb Ambedkar Jayanti and on Friday on account of Good Friday.
“This week is a holiday-shortened one, but it will be critical as it kickstarts the earnings season with two IT majors, TCS and Infosys announcing numbers.
“Besides, on the macroeconomic entrance, individuals might be eyeing IIP and CPI inflation information on April 12. Apart from home elements, world cues like updates on Russia-Ukraine and efficiency of world markets will stay on the radar,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
Markets would also focus on the trend in the rupee, foreign institutional investors and Brent crude.
“The earnings session will kick off with outcomes of main IT names TCS and Infosys, that are scheduled on the eleventh and thirteenth of April, respectively. Apart from earnings, world cues, crude oil costs, and FIIs’ movement will play an necessary position available in the market’s course,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
Last week, the Sensex slipped 170.49 points or 0.28 per cent, while the Nifty shed 113.90 points or 0.64 per cent.
Yesha Shah, Head of Equity Research, Samco Securities, said, “Inflation and outcomes will take centre stage this week. While world buyers might be influenced by inflation numbers of the United States and China, the CPI print in India might be a vital home indicator to keep watch over.
“Additionally, Indian IT firms will be in the spotlight as the leaders announce their Q4 results.” Geojit Financial Services’ Head of Research Vinod Nair additionally stated that the main target would shift to the This autumn earnings season, initiated by the IT and banking sectors.
“Markets also await the release of major domestic economic data such as inflation rate for March, industrial production and manufacturing production data this week,” Mr Nair added.