Market outlook: From Karnataka Elections 2018 to PNB Q4 results, key things to look next week

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Published: May 12, 2018 3:08:40 PM

Indian equity markets have been mostly rising for more than a month irrespective of FPI's exiting the stocks on the back of revival in the Q4 results with relatively positive global cues. We take a look at major events which are likely to steer the stock market direction ahead.

A heightened volatility and liquidity may be seen in Indian equity and forex markets on Tuesday, 15 May 2018. (Image: Reuters)

Indian equity markets have been mostly rising for more than a month irrespective of FPI’s exiting the stocks on the back of revival in the Q4 results with relatively positive global cues. The S&P BSE Sensex and NSE Nifty have risen 8 to 9% in the course of the last one-half-and-month. According to several experts, in the coming week, the domestic markets will be highly impacted by the outcome of Karnataka Elections 2018 and major corporate earnings scheduled. Going ahead in the week, the Indian stock markets will witness the Q4 earnings reactions for the companies such FMCG giant HUL, Anil Ambani’s telecom firm RCom, Britannia Industries, fraud-hit PNB, pharma major Lupin, TVS Motor Company, India’s biggest FMCG company ITC, JSW Steel, Bajaj Finance, Bajaj Finserv, Voltas and Bajaj Auto.

Along with the Q4 results, market participants will be eyeing the macroeconomic data with WPI numbers for food, fuel, manufacturing, inflation and inflation (CPI) along balance of trade. The WPI (Wholesale Price Inflation) figures will be announced on 14 May 2018, Monday during the intraday dealings around 12 am while the inflation rate for the month of April will be released after market hours on the same day. Friday, 18 May 2018, will see the position of forex reserves which released every week on Friday.

On Monday, 14 May 2018, Indian stock markets will also react to the exit polls of the Karnataka Elections 2018 which will be released today, 12 May 2018, after polling process will be completely winded up.

Following this, on Tuesday, 15 May 2018, a heightened volatility and liquidity may be seen in Indian equity and forex markets as on Tuesday three major things scheduled for the single day — Karnataka Elections 2018 results; Q4 results of scam-hit Punjab National Bank; the balance of trade data. Amid the corporate earnings, financial results for the quarter and the financial year ended 31 March 2018 of companies such as ITC, HUL, PNB, Bajaj Finance, Bajaj Auto will be closely watched.

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