Markets during the coming days are likely to be volatile on companies’ corporate earnings announcement , Donald Trump’s action, and US Federal Reserve meet and the geopolitical worries to take centre-stage. After hitting record highs last week, it will be crucial for the markets to consolidate from here on. The markets are shut on Monday on account of Maharashtra Day and Labour’s Day.
Some of companies which will announce March quarter earnings this week includes Dabur India, Bharat Financial inc, HDFC, ICICI Bank, RBL Bank, Godrej Properties, Apollo Tyres and L&T Technology. Newly listed Avenue Supermarts (D-Mart chain) will announce its quarterly results on 6 May.
Auto companies are in limelight as April sales data by auto companies will also be announced this week. Manufacturing sector activity rose to a 5-month high at 52.5 and services PMI grew to 51.5 in March. Realty stocks will also be on attention as the much- awaited Real Estate Regulation & Development Act (RERA) will be implemented from 1 May.
Meanwhile, in the global front, geopolitical worries may go sky-high as US President Donald Trump said he has left open the likelihood of military action against North Korea, if it conducts another nuclear test.
The 2-day Federal Open Market Committee meeting will end on Wednesday and the Reserve bank is not expected to raise interest rates. Global investors will be cautious for Fed chair Janet Yellen’s speech for commentary on outlook, since it has given signal for two more rate hikes this year.