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Foreign investors' trading activity key driver in holiday-shortened week

By Business Standard - 6 months ago
The last batch of quarterly earnings, global trends and trading activity of foreign investors will guide the equity market movement in a holiday-shortened week ahead, analysts said. Volatility may continue amid investors' cautious approach in the election season. Markets will remain closed on Monday due to the fifth phase of the Lok Sabha elections in Mumbai. "We are at the end of Q4 earnings. Positive earnings reports could provide some relief in this uncertain market," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. US Fed Chair Jerome Powell is scheduled to deliver a speech on Monday, which is likely to influence market sentiments, Gour said. Furthermore, upcoming economic data releases from Japan and the US, along with movements in the global currency market, will also be important factors to consider, he added. ONGC, SAIL, BHEL, JK Tyre, One97 Communications, Power Grid, InterGlobe Aviation, ITC and NTPC will announce their quarterly earnings this week.

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