Corporate earnings, COVID-19 trend, global cues to drive markets this week: Analysts

Trading at the Indian bourses will be largely driven by corporate earnings announcement, COVID-19 trend and global cues this week, according to market analysts.

The government on Friday extended the nationwide lockdown till May 17.

Commenting on the move, Vinod Nair, head of research at Geojit Financial Services, said, "It is not a big surprise for the market since it was expecting phase-wise reopening of the economy which is mostly in line with the latest protocol. But, more than that, the market has realised a concern, based on latest economic and corporate data, that the cascading effect on the domestic economy and corporate earnings is much more than anticipated."