Weekly Trigger (Apr 26 – Apr 30)

weekly 2 Weekly Trigger (Apr 26   Apr 30)

Trigger for the WeekHow will it impact?
·        Nifty closed the week below 14,350 with unfavourable A/D ratio·        The sell-on-rises undertone in the market is likely to continue in the coming week too


·        Rising coronavirus cases remains the biggest risk factor·        Daily Corona afflictions have crossed 3.50 lakhs and some improvement in Mumbai is just small consolation
·        Markets are expected to react to ICICI Bank results over the weekend·        ICICI Bank profit jumped yoy on lower provisioning, but the profits were lower on sequential basis
·        Results season is likely to pick up further steam in the week·        Big results include, HDFC Life, SBI Cards, TECHM, Axis, Britannia, HUL, Maruti, Bajaj Auto, BFIN, Reliance, APIL
·        VIX continued to sustain above the 22 mark through the week·        The VIX has failed to go below the 20 mark indicating that fear of volatility continues in the market
·        Power Grid INVIT IPO will be closely watched during the week·        The Rs.4,993cr IPO will be key to gauging appetite for monetization of PSU assets, which is a big part of FY22
·        FOMC meet and Biden Tax to hold centre-stage during week·        Fed likely to hold rates on 28 Apr but immediate concern will be the 43% capital gains tax proposed by Biden
·        Core sector data for Mar-21 to be announced on 30 April·        This will also give the full-year core sector and set the tone for the expected GDP recovery in FY22


·        Fitch holding ratings with negative outlook to be seen as favourable·        Markets will heave a sigh of relief that there has been no macro warnings on account of the COVID crisis
·        The big focus will be inoculation in the light of growing numbers·        With both vaccines likely to be priced steeply, markets would be disappointed if inoculations get delayed
·        FPI outflows continue with Rs.7500 crore withdrawn in April 2021·        However, domestic institutions infused more than Rs,8,000 crore during the month as FPIs played safe
·        Monthly auto sales numbers for April are expected on Saturday·        It will give the first indication whether auto stocks are likely to face demand pressure in coming months
·        Key data points from the US macros will be watched this week·        Focus on US durable goods, Fed rates, jobless claims, Q1 GDP, PMI Composite, personal income & spending stats
·        Key data points fromEurope and Asia will be keenly watched·        Focus on ECB PMI, Q1 GDP, Inflation Flash, Japan BOJ rate decision, retail sales, joblessness, IIP, JIBUN PMI

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