Indian equity markets have seen volatile sessions specifically in the last one month as the fourth-quarter earnings unfolded following which investors saw PNB reporting the biggest quarterly loss by any bank ever in the Indian history. If the last one-month picture is taken into consideration, the performance of benchmark indices Sensex and Nifty have been flat. The S&P BSE Sensex moved up 211 points or 0.6% to 34,925 from a level of 34,714 as on 26 April 2018 while, on the other hand, wider Nifty 50 index 12.65 points or 0.12% to 10,605.15 from a level of 10,617.8.
Going ahead in the next week, the domestic markets are likely to steered by upcoming Q4 earnings with over 700 companies set to report their respective fourth-quarter financial report card, GDP data for the period of January-March 2018, crude oil prices and rupee value against US dollar and settlement of India dated securities amounting to not more than Rs 12,000 crore auctioned by RBI.
Among the 700-plus companies which are scheduled to announce Q4 results in the week ahead, major firms are NTPC, Oil India, Dredging Corporation of India, Lanco Infratech, Ruchi Soya, NHPC, Bank of India, Indian Overseas Bank, Piramal Enterprises, Minda Corp, Hathaway Digital, NLC India, Walchandnagar Industries, United Bank of India, Aurobindo Pharma, NMDC, Coal India, Dilip Buildcon, MMTC, Dish TV, BHEL, Bharat Electronics, Ashoka Buildcon, Glenmark Pharma, Gati, BPCL, Simbhaoli Sugars, La Opala RG, Bharat Dynamics, Mishra Dhatu Nigam, Manpasand Beverages, Canara Bank, HDIL, Hindustan Copper, Fortis Healthcare, Punj Lloyd, ONGC, berger Paints, Infibeam Incorporation, GMR Infra, The Jammu & Kashmir Bank,Religare Enterprises, Torrent Pharma, Suzlon Energy, Rajesh Exports and Hindustan Aeronautics.
The settlement of RBI’s Rs 12,000 crore auction of India dated securities will take place on 28 May. The move is likely to see a spike in demand of rupee which may result in appreciation of the domestic currency against the US dollar. The Indian Rupee logged the biggest single-day gain on Friday surging as much as 56 paise apiece US dollar. Crude oil prices have fallen for three straight sessions with Brent crude slipping below $77 per barrel mark after it breached $80 level in the last week. India’s GDP data for the fourth quarter of the financial year will be announced on 31 May 2018.