Fourth quarter earnings, macro data and global trends to boost markets in holiday-shortened week

Quarterly earnings from IT majors TCS and Infosys, macro data announcements and global trends would be the main driving factors for the stock market in a holiday-shortened week, analysts said.

Stock markets will be closed on Thursday for Mahavir Jayanti and Dr. Babasaheb Ambedkar Jayanti, as well as Friday due to Good Friday.

“This week is shortened by the holidays, but it will be critical as it kicks off earnings season with two IT majors, TCS and Infosys, announcing numbers. IIP and CPI inflation in April 12. Besides domestic factors, global indices such as updates on Russia and Ukraine and the performance of global markets will remain on the radar,” said Ajit Mishra, vice-president President – Research, Religare Broking Ltd.

Markets would also focus on the development of the Rupee, foreign institutional investors and Brent.

“The earnings session will kick off with earnings from major IT names TCS and Infosys, which are scheduled for April 11 and 13, respectively. In addition to earnings, global indices, crude oil prices and FII flow will play a role. important in the direction of the market,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.

Last week, the Sensex slipped 170.49 points or 0.28%, while the Nifty lost 113.90 points or 0.64%.

Yesha Shah, Head of Equity Research, Samco Securities, said: “Inflation and earnings will take center stage this week. States and China, India’s CPI print will be an important national indicator to watch.

“In addition, Indian IT companies will be in the spotlight when executives announce their fourth quarter results.”

Geojit Financial Services Head of Research Vinod Nair also said that going forward the focus will be on the fourth quarter earnings season starting this week, initiated by the IT sectors. and the bank.

“Markets are also awaiting the release of key national economic data such as the inflation rate for March, industrial production and manufacturing production data this week,” Nair added.

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