New Delhi: Key macroeconomic data and the next set of quarterly earnings will set the tone for domestic equities this week. “Next batch of Q4 earnings, macroeconomic data and trend in global markets will set the market trend. Investors will continue to focus on management commentary and earnings guidance which in turn will set the market tone,” said Vijay Singhania, Founder-Director, Trade Smart Online.
Industrial production data for March is due on Thursday, as also consumer price index numbers for April. Key firms scheduled to announce their results include Hindustan Unilever, Kotak Mahindra Bank, Dr Reddy’s, Indian Bank and Asian Paints. “Overall, the markets continue to remain in a oversold zone. We believe that trigger to move up to the previous high of 8,000 on Nifty may be the assembly election results,” Singhania added. The Sensex ended last week at 25,228.50, showing a loss of 1.48%.
