Business & Investment

Senks: Fourth Quarter Revenues, Pandemics, F & O Expirations Among the Key Factors Leading the Market This Week

New Delhi: The Benchmark Stock Index continued to be under pressure for another week as the number of Covid-19 cases increased nationwide and strict restrictions announced by several state governments lowered emotions.

But as the week went on, strong vaccine-related updates and supportive global markets helped keep the damage down. On the sector side, pharmaceuticals and metals ended up with a healthy rise, but all other indices traded calmly, with real estate, FMCG and automobiles the biggest losers.

On the data side, core sector data will be released on April 30th. A recent proposal by US President Joe Biden to raise capital gains taxes is beginning to show the impact on the US market that may cascade this week. Needless to say, COVID related updates remain on the participant’s radar.

“The scheduled data and events will not ease volatility this week either. With the monthly expiration of the derivatives contract in April, traders will always be on the lookout,” said Vice President of Research. Ajit Mishra said. Religare Brokering.

Here are the key factors that may lead the market during the week:

Fourth Quarter Revenue: Many large and small companies announce their March quarter earnings during the quarter, which leads to individual equity behavior. Among them, the most famous are HDFC Life Insurance, SBI Card, Tech Mahindra, Axis Bank, Bajaj Finance, Britannia, HDFC AMC, Nippon AMC, Maruti Suzuki, TVS Motor, Biocon, Tata Communications, Bajaj Auto, Inox Leisure, Titan, IndusInd. Bank, Mariko and Reliance Industries.

Catastrophic pandemic: The Covid-19 pandemic is getting worse every day as hospital oxygen deficiencies are killing more and more lives. The country reports more than Rs 30,000 Covid cases daily, a record in any country in the world. Traders are on the lookout for evolving situations to shift trading.

On the other hand, all adults can enroll for vaccination during the week. The pace of vaccination is watched by investors.

F & O expiration date: April futures and options contracts expire on Thursday. Settlement of trade can increase volatility. It will also be interesting to see how many traders roll over positions.

Macro data: The government announces infrastructure output for March. This can lead to stock-specific movements in the sector. In addition, the Reserve Bank of India will release foreign exchange data for the week ending April 23.

Rupee drop: Another concern for Indian investors is the sharp fall in the rupee. The central bank is said to be offering the dollar to prevent the USDINR pair from rising unilaterally, and their intervention helped the pair pull back from the peak of 75.32 to 75.00.

“On the downside, 74.90-74.80 could act as an immediate level of support, but if the same negative sentiment is widespread in the market, it could drop to 74.60-74.50 in future sessions. On the positive side, the 75.20-75.30 zone can be tested as resistance, “said Kshitij Purohit, Product Manager for Capital Via Global’s currencies and commodities.

Technical outlook: The Nifty50 closed negatively on the weekly chart and is now integrated at a significant level of support. Bulls need to protect their current support as the index trades outside major uptrend channels and below this can cause bearish sentiment across the market, analysts said. There is.

“Many major stocks are showing signs of an uptrend, and the Bank Nifty Index is also forming a sort of minor bottom around the short-term average of the weekly average. Nirari, Head of Equity Research at SAMCO Securities・ Shah said:

Senks: Fourth Quarter Revenues, Pandemics, F & O Expirations Among the Key Factors Leading the Market This Week Senks: Fourth Quarter Revenues, Pandemics, F & O Expirations Among the Key Factors Leading the Market This Week

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