Foreign fund trading activity, monthly car sales data and global trends would also shape market movements this week.
Markets would remain closed on Monday due to ‘Maharashtra Day’.
The US Federal Reserve’s interest rate decision, quarterly corporate earnings and domestic macroeconomic data will impact stock market trading over the holiday week ahead, analysts said.
Foreign fund trading activity, monthly auto sales data and global trends would also drive market movements this week, she added.
Markets would remain closed on Monday due to ‘Maharashtra Day’.
“The worldview is still confused between more rises and a recession. All eyes are on the statement from the Federal Open Market Committee (FOMC), which will be announced on May 3, while the ECB will announce its interest rate decision on May 4. Macroeconomic data will keep market sentiment subdued in the near term.
“Apart from that, Indian stock markets are constantly receiving funding from FIIs, and Friday’s record cash market purchases of Rs 3,304 crore showed their confidence in the Indian market,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
In the domestic market, fourth-quarter data and auto sales will drive movement this week. Tata Steel, Titan, Hero MotoCorp and HDFC Ltd are the few Nifty 50 companies set to report their financial results this week, Gour added.
Among other earnings reported this week come from Adani Green Energy, Ambuja Cements, Tata Steel, UCO Bank, Adani Enterprises, Bharat Forge and Federal Bank.
“In the domestic market, PMI and quarterly earnings releases will impact investor sentiment in the coming sessions, along with the Fed’s policy announcement,” said Vinod Nair, Head of Research at Geojit Financial Services.
Purchasing Managers’ Index (PMI) data for the manufacturing and services sectors will influence trading in the market.
“While markets may have moved up sharply over the past few sessions due to renewed interest in FII purchases, relatively better corporate earnings to date and falling crude oil prices, caution may prevail and profit-taking may come into play. Amol Athawale, Technical Analyst (DVP), Kotak Securities Ltd, said.
Last week, the BSE benchmark rose by 1,457.38 points or 2.44 percent.
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(This story has not been edited by News18 staff and was published from a syndicated news agency feed)