Fed, Lic Ipo, Earnings Likely To Influence Market

Central bank action, the LIC initial share sale and corporate earnings will be in focus on Dalal Street in the holiday-shortened four trading session week starting May 2. Earnings will remain in focus, with index heavyweights Reliance Industries, HDFC, Hero MotoCorp, Tata Steel, Tata Consumer and Kotak Mahindra Bank among the corporates slated to report their quarterly numbers during the week.

Besides, foreign fund flows, and news updates on the Russia-Ukraine war and rising COVID infections in parts of the world will continue to be on investors’ radar. Globally, investors will closely track key rate decisions by the US and UK central banks.

The week that was

Indian equity benchmarks declined marginally last week. The 30-scrip Sensex index lost 136.3 points or 0.2 percent for the trading week ended April 29, managing to hold the 57,000 mark.

Most sectoral indices finished the week in the network.

Broader markets took a deeper blow than headline indices.

Index Weekly changes
mid cap 100 -1.4
small cap 100 -2.7

A total of 38 Nifty50 stocks suffered weekly cuts.

Hero MotoCorp and Hindustan Unilever were among the few blue-chip gainers.

Here are the key factors and events that are likely to influence Dalal Street in the holiday-truncated week starting May 2:

GLOBAL CUES

US Europe Asia
May 2 Manufacturing PMI Eurozone manufacturing PMI Japan manufacturing PMI
May 3 Eurozone unemployment rate, ECB President speech Hong Kong GDP data
May 4 fed rate decisionCrude oil stockpiles data ECB non-monetary policy meeting, Eurozone retail sales
May 5 Jobless claims data BoE rate decisionECB official speech
May 6 Fed official speech Three BoE officials due to speak Japan inflation data
May 7 Three Fed officials due to speak

DOMESTIC CUES

The Indian equity and money markets will remain shut on Tuesday for Id-Ul-Fitr.

earnings

A slew of blue-chip companies are slated to report their financial results during the course of the week.

Here are few noteworthy financial results due this week:

Company earnings
HDFC, Britannia, IDBI, IDBI Bank, M&M Financial Services, Devyani International and Inox Leisure May 2
Hero MotoCorp, Tata Steel, Titan, Adani Enterprises, Godrej Properties and JSW Energy May 3
Kotak Mahindra Bank, Tata Consumer, Adani Green, Havells, Equitas Small Finance Bank, Deepak Nitrite and CarTrade May 4
Adani Transmission, Adani Power, TVS Motor, Voltas Marico, Dabur, Cholamandalam Investment and OFSS May 5
Reliance Industries, Canara Bank, Federal Bank and Tata Power May 6

IPO

State-run life insurer LIC’s IPO worth up to Rs 21,000 crore will hit the Street on Wednesday, May 4. The initial share sale is set to be the biggest of all time in the country.

macroeconomic data

A PMI survey on manufacturing in India is due for a release on Monday.

FII activity

Foreign fund flows will remain in focus on Dalal Street.

Last week, foreign institutional investors (FIIs) net sold Indian shares to the tune of Rs 12,190 crore, though domestic institutional investors (DIIs) made net purchases of Rs 7,278.3 crore, according to provisional exchange data.

corporate actions

Company former date Purpose record date
FOSECO India May 2 Final dividend Rs 25
Sri Havisha Hospitality & Infrastructure May 2 EGM
Gateway Distriparks May 4 Interim Dividend Rs 1.25 May 5
Sindhu Trade Links May 4 EGM
Colgate-Palmolive (India) May 5 Interim Dividend Rs 21 May 7
Sarda Energy & Minerals May 5 Interim dividend Rs 7.5 May 6
Sarda Energy & Minerals May 5 sharebuyback May 6
CRISIL May 6 Interim Dividend Rs 7 May 9
Embassy Office Parks REIT May 6 INCOME DISTRIBUTION RITES May 9
Mahashree Trading May 6 EGM
Tree House Education & Accessories May 6 EGM
Vedanta May 6 Interim dividend Rs 31.5 May 9

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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