Macro data, quarterly results key to stock market this week

Key macroeconomic data and the next set of quarterly earnings will set the tone for domestic equities this week, say experts.
"Next batch of Q4 earnings, macroeconomic data and trend in global markets will set the market trend. Investors will continue to focus on management commentary and earnings guidance which in turn will set the market tone," said Vijay Singhania, Founder-Director, Trade Smart Online.
Industrial production data for March is due on Thursday, as also consumer price index (CPI) numbers for April.
Besides, investment trend by overseas investors, movement of rupee and dollar would also influence trading.
Major companies scheduled to announce their results this week include Hindustan Unilever (HUL), Kotak Mahindra Bank and Asian Paints.

"Overall, the markets continue to remain in a oversold zone. We believe that trigger to move up to the previous high of 8,000 on Nifty may be the assembly election results," Singhania added.

"CPI and IIP numbers will be announced on May 12, and markets will react according to these numbers. Market will watch results of companies like Nestle, Dr Reddy's, Asian Paints. Results of PSU banks like Indian Bank, Allahabad Bank will be to watch for NPA numbers and their profit numbers," said Nirdosh Gaur, Managing Director and CEO, Moneypalm.
Markets ended in red for the second straight week due to all-round selling pressure. The Sensex ended the week at 25,228.50, showing a loss of 1.48 per cent.

"Markets are fluctuating in a band after the sharp run-up over the past 2-3 months. We believe that, the short term trend will be dictated by the remaining quarterly results and further announcements on monsoons, apart from the global cues," said Dipen Shah, Senior Vice-President and Head of Private Client Group Research, Kotak Securities.