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Market Ahead, April 27: Top factors that could guide markets this week

According to a Business Standard report, the government will give out new official economic growth and budgetary projections in July or later

Market Ahead | Markets | Coronavirus

BS Web Team  |  New Delhi 

The trend in cases and the government's decision on the nationwide will be the top triggers for the this week. The ongoing is supposed to end on May 3 so any extension beyond that date is likely to hurt market sentiment.

Prime Minister Narendra Modi will conduct a video conference with chief ministers today to discuss interstate transit of migrants and the Centre’s plan for a staggered exit from the

Meanwhile, India's count of Covid-19 cases has reached 27,890 and the death toll stood at 882, according to Worldometer. India reported 1,975 new positive cases in the previous 24 hours itself, thus recording its biggest 1-day surge in number of cases.
Globally, the death toll has surpassed 200,000.

According to a Business Standard report, the government will give out new official economic growth and budgetary projections in July or later, only after the worst of the pandemic is behind the country.

Besides this, corporate results of a number of private banks and FMCG companies will roll in this week. and Ambuja Cements are scheduled to announce their March quarter results today. Throughout the rest of the week, Axis Bank, Hindustan Unilever, and are among the major result announcements to watch out for. Auto sales data for April will also be released over the weekend.

Investors will also track the developments in the case. The and the had discussions with the mutual fund industry on Sunday to assess the impact of the company's move and its repercussions on the corporate debt market.

Besides, the expiry of April derivative contracts this week is likely to inject further volatility. On the macro data front, infrastructure output for March will be released on April 30.

Globally, Bank of Japan, and will announce their interest rate decision this week. The US Federal Reserve's two-day meeting begins tomorrow and the interest rate decision will be announced on April 29.

Asian shares inched higher in today's early trade. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent in early trade. Japan’s Nikkei and South Korea's Kospi both gained over 1 per cent each. The is also up about 50 points, so expect a slightly higher opening for the Indian today. In commodities, futures firmed 45 cents to $21.89 a barrel.

Read by: Kanishka Gupta

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First Published: Mon, April 27 2020. 07:29 IST