Q4 earnings, inflation data to drive stocks this week: Experts

Fourth quarter earnings of blue-chips such as Infosys, TCS, Wipro, RIL and inflation data for March will dictate the trend on the bourses in a holiday- shortened week ahead, experts said.

Stock markets will remain closed on Monday and Friday for Ambedkar Jayanti and Good Friday, respectively.

Marketmen said that the major trigger for the stock market is March quarter corporate earnings, starting with IT bellwether Infosys from Tuesday.

Among other major earnings this week are TCS, Wipro, GlaxoSmithKline Pharmaceuticals, HCL Technologies and Reliance Industries.

On the macroeconomic front, data for inflation based on wholesale price index (WPI) and consumer price index (CPI) for March will be announced on Tuesday.

Besides, the stock market is awaiting the outcome of the ongoing Lok Sabha elections that began on April 7 and will conclude on May 12. The results will be declared on May 16.

"This week inflation and Infosys Q4 FY14 results shall be decisive factor for market trend. Global cues and election outcome will also impact near-term trend. In coming sessions, 6,800 shall be crucial deciding level in near term, and index is likely to witness further buying above this level," said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio.

Analysts said that trend in investment by foreign institutional investors, global cues and movement of rupee against the dollar would continue to influence market trading.

"It's going to be a crucial session on Tuesday as participants would be seen reacting to IIP numbers and IT major Infosys results on opening note. That would set the tone for the rest of the day. Considering the situation in hand, it is advisable to keep cautious approach," said Jayant Manglik, President-retail distribution, Religare Securities.

After feeble signs of a recovery, industrial production once again slipped into negative territory and contracted 1.9 per cent in February.

Over the last week, the Sensex ended with a gain of 269.46 points at 22,628.96.