Next week Queues
Corporate earnings from bluechips, including RILand TCS, wholesale price index inflation data and foreign investor activity will set the tone for Indian markets this week, according to experts.
All eyes are now on the Wholesale Price index (WPI) for March 2013 that will come before mid-session on Monday. A positive surprise may cement hopes of a repo rate cut on RBI's May 3 meeting after retail inflation numbers showed a decline.
IIP and CPI data, though shrugged off by investors, are indicators of economy bottoming out and inflation cooling off.
Foreign fund flows would decide the mood on Dalal Street and a mid-week rally cannot be ruled out, he added.
Foreign fund flows would decide the mood on Dalal Street and a mid-week rally cannot be ruled out, he added.
The markets would be also closely watching the Foreign Trade Policy slated to be announced next week on April 18 to get sense of the government initiatives for boosting exports and alleviate the concerns pertaining to the widening current account deficit and growth.
Stock markets will remain closed on Friday for Ram Navmi.
KEY FACTORS/EVENTS TO WATCH
Monday: - March WPI data.
- Finance Minister P. Chidambaram travels to U.S. (Through April 19)
Tuesday: - Reliance Industries earnings
Wednesday: - HCL Technologies, Tata Consultancy Services earnings
Friday: - Wipro earnings
- Markets closed for a holiday
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