The announcement of stimulus measures by global central banks triggered the market in the last week which ended on April 30. There are several factors such as COVID vaccines, bigger fiscal stimulus from the government, and reopening of economic activities in various countries that play a major role in the market change.
US-China trade war
The imposition of new tariffs on Chinese imported products threatened by Trump possesses the possibilities of the trade war again. If it happens so it will grab the attention globally and will have an impact on the markets.
Possibility of Vaccine by Gilead
USFDA permitted the new corona vaccine by Gilead to treat only for severe patients. If it succeeds it will surely create a storm in the global markets.
COVID remains trending
The rapid increase of COVID cases will extend the time of reopening the markets. The red zones also include major industrial hubs.
Only 24 companies are about to release their quarterly reports this week. And 10 odd companies from BSE Sensex have only released the report so far.
ICICI and HCL
India’s second-largest private-sector asset lender ICICI is expected with a more than 4 fold increase in Q4FY20 profit due to low provisions and low base in the last period.
HCL may encounter with a marginal decline in QoQ Profit in the 4th quarter profit.
Indian Rupee and Oil prices
Due to rally in the equity markets, COVID 19 vaccine, reduced FII selling, and flexibility in lockdown restrictions, Indian rupees encountered a change by 173 paise in the last 7 consecutive sessions from 76.83-75.10 levels.
Experts say even though sharp recovery by oil prices and crude oil jump after falling below zero will gives rise to only limited recovery as lockdown prevails in major parts of the world.
Market from technical’s eye
Experts say that the index of Nifty 50 has to hold 9400 and move closer to 10000. This mark will be easy to sustain the bullish momentum. The break out of the index 9400 will lead to selling pressure.
Amit Gupta of ICICI said that a volatile decline from 85% in March to 30%would be the key factor for the Nifty to cross 1000.
The board meetings of Shriram city union Finance, Punjab & Sind Bank, and NHPC are to be held this week regarding fundraising plans.
Let us look forward in the upcoming week for the fluctuations and turning points in the market.
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