Updated on 16 April 2018
The year 2017
Three factors to watch this week for market impact
The domestic market ended higher for a seventh straight session on Friday, marking its longest winning streak since November 2017. Good times for the bulls continued on Dalal Street for the third week in a row, as both headline indices went home with handsome gains. The S&P BSE Sensex added 565 points, or 1.68 per cent, for the week gone by to settle at 34,192, while the broader Nifty50 climbed 149 points, or 1.44 per cent, to 10,480. But Geopolitics returns to haunt markets this week after the US and allies launched air strikes on Syria over the weekend, raising Middle East tensions, which have the potential to trigger a major spike in crude oil price.
Major Stock highlightsAmong key highlights, Lemon Tree Hotels, India's largest hotel chain in the mid-priced hotel sector, made a decent market debut as the scrip got listed at Rs 61.60, a 10 per cent premium over the issue price of Rs 56. IT bellwether Infosys on Friday announced its first full quarter numbers under new CEO Salil Parekh. The figures were pretty much in line with Street expectations. Going forward, besides geopolitical developments, Q4 earnings and domestic politics will keep investors on the edge.
March quarter earnings Corporate earnings will take the centrestage in the weeks ahead as some of the index-heavyweight companies are scheduled to release their quarterly numbers. ACC will declare its March quarter numbers on Wednesday, April 18, while IndusInd Bank and IT major TCS will unveil theirs on Thursday, April 19. Other notable earnings during the week will be that of Crisil, Mindtree, Cyient, HDFC Life and Tata Sponge. Private lender HDFC Bank will announce its numbers on April 21, 2018. Possible spike in crude prices The long era of too much oil sloshing around the world and low prices is coming to an end, just as global events are heating up crude prices, CNBC reported. Oil prices rose on Friday, making the largest weekly gain since July. Both the benchmarks, Brent crude and US WTI settled 8 per cent higher for the week. Any hike in oil prices may impact the Indian stock market negatively. Macro numbers to have a bearing Inflation data based on wholesale price index (WPI) for March 2018 are slated to release on Monday, April 16. Wholesale prices rose by 2.48 per cent year-on-year in February 2018, after a 2.84 per cent increase in the prior month. India’s annual wholesale price inflation eased for the third straight month in February after touching an eight-month high in November. This apart, investors may also factor in trade deficit data that came on Friday. The trade deficit for FY18 soared to a five-year high on rise in imports. Exports declined nearly one per cent in March after four months of rise to $29.1 billion from $29.3 billion a year ago, data released by the government showed.