Market Spotlight: What to watch out for market this week

This week markets starting Monday, 19 April will focus on long-term bond yield trends, crude oil prices and macro-economic data as investors look for cues amid volatility, according to analysts.

On Monday at around 9.40 am the BSE Sensex slipped 1307 points at 47524, while the NSE Nifty cracked 376 points at 14241. New curfew measures being imposed in many states like Tamil Nadu and Bihar coupled with already imposed curfew in many states due to rising Covid cases, raised alarming concern of an economic slowdown.

Stock in Focus: Nestle India, Rallis India and Tata Elxsi are the other major companies to announce their earnings this week. Markets are likely to be highly volatile in this holiday-shortened week and will continue to be guided by COVID-related updates, global cues and quarterly earnings, analysts said. Equity markets would remain closed on Wednesday for Ram Navami.

"We expect volatility to remain high as the market is expected to continue its focus on updates of state-wise restrictions and the spread of the virus. Stock-specific movements based on upcoming results can be expected in the market," said Vinod Nair, Head of Research at Geojit Financial Services.

"This week is also a holiday truncated one and we expect volatility to remain high. In absence of any major event, the focus would remain on earnings as companies like ACC, HCL Tech and M&M Finance will announce their results. Besides, COVID-related updates and cues from the global markets will be on the radar," Ajit Mishra, VP Research, Religare Broking said.

 

Amid COVID spurt, leading brokerages downgrade India’s GDP forecast

India to become the first in one electric vehicle maker in the world: Nitin Gadkari

Centre Grants a new supply of ventilators to 11 States in the wake of Covid Surge.

 

- Sponsored Advert -

Most Popular

- Sponsored Advert -