Earnings, virus trend, Fed rate decision to drive equities: Analysts

Quarterly earnings, trend in coronavirus cases, and the US Fed's interest rate decision will be the major drivers for markets in the holiday-shortened week ahead, analysts said.

Participants would also keep an eye on retail investor sentiment in the aftermath of Franklin Templeton Mutual Fund shutting six debt schemes, they added.

Bourses will remain closed on Friday for 'Maharashtra Day'.

"Investors are still struggling in evaluating the impact of coronavirus pandemic on business as companies refrain from giving guidance. Going ahead, markets are likely to react to earnings, trend in coronavirus cases, oil price and currency movement along with global events.

"Any announcement from the government on economic stimulus package could provide some interim relief," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Deepak Jasani, Head of Research, HDFC Securities, said: "The US Federal Reserve's two-day meeting begins on 28 April and interest rate decision will be announced on 29 April 2020. Indian markets failed to score a third back to back weekly gain on worries about economic growth in the background of Covid-19 lockdown. The latest Franklin Templeton Mutual Fund issue has created fresh worries on stress in the economy - especially in the financial sector."