The Indian equity market’s movement this week will hinge on Covid-related developments such as lockdown 4.0 specifics and new infections trend, besides quarterly earnings, analysts said.
In addition, experts said, domestic bourses will take cues from global peers which have been reeling from fears of a second wave of Covid-19 in some countries.
The market will also assess the effectiveness of the government's mega Rs 20-lakh crore stimulus package that, analysts believe, would be critical for the revival of the economy.
"Government has made it clear that it will introduce the measures in tranches, but execution is key and that will be followed by the markets. Markets will also be driven by the rate of infections, lockdown 4.0 norms and any stock specific earnings commentary in the ongoing results season," said Vinod Nair, Head of Research at Geojit Financial Services.
Ajit Mishra, VP - Research, Religare Broking Ltd, said, "It seems like markets are awaiting further details (of stimulus package) before making any reaction and we may see the possible response on Monday i.e. May 18."