All eyes will be on the RBI's first policy review of FY23 this week as the Street steps into the new financial year. Economists, analysts and investors will closely track the central bank's commentary on inflation and growth, after it delivered its first hike in key rates in more than three years in its last policy review.
Any big movement in crude oil, updates on the Russia-Ukraine war, PMI readings and COVID-19 will also be on investors' radar.
Back home, the focus is slowly returning to the IPO market too, with two stocks slated to be listed on bourses this week.
The week that was
Headline indices Sensex and Nifty50 gained around three percent each last week, led by strength across the financial basket, amid mixed global cues. Easing crude oil rates and foreign fund inflows aided investor sentiment though geopolitical uncertainty around the Russia-Ukraine war kept investors on the edge globally.
The Sensex gained 1,914.5 points or 3.3 percent for the week, and the Nifty50 added 517.5 points or three percent. Broader markets also strengthened, with the Nifty Midcap 100 rising 2.9 percent -- its fourth weekly gain in a row. The smallcap index rose three percent.
The Nifty Realty was the biggest gainer among NSE's sectoral gauges, rising 5.7 percent. The Nifty Bank, Private Bank, PSU Bank and Financial Services indices jumped around five percent each.
"The market is moving largely in sync with its global counterparts, and positive developments on the Russia-Ukraine front could further support the rebound," said Ajit Mishra, VP Research at Religare Broking.
"Almost all the sectors are contributing to the rebound now, though the contribution of the banking pack is critical for the Nifty to test the 17,800-18,100 zone ahead. Participants should align their positions accordingly," he said.
DOMESTIC CUES
The outcome of the RBI's first monetary policy review of FY23 is due on Friday, April 8.
IPO
Hariom Pipe Industries' IPO to raise up to Rs 130 crore closes for subscription on Tuesday.
Shares of Uma Exports and Veranda Learning Solutions are likely to be listed on BSE and NSE on Thursday.
FII activity: More inflow on cards?
Foreign institutional investor (FII) flows will once again be in the spotlight. Last week, FIIs net purchased Indian shares worth Rs 5,590 crore, and domestic institutional investors (DIIs) Rs 5,052.5 crore, according to provisional exchange data.
FII trends will be tracked closely this week.
Corporate action
GLOBAL CUES
A slew of central bank officials are due to speak during the course of the week.
PMI surveys on global manufacturing and services are due on Monday and Tuesday respectively.
Any big movement in crude oil, updates on the Russia-Ukraine war, PMI readings and COVID-19 will also be on investors' radar.
Back home, the focus is slowly returning to the IPO market too, with two stocks slated to be listed on bourses this week.
The week that was
Headline indices Sensex and Nifty50 gained around three percent each last week, led by strength across the financial basket, amid mixed global cues. Easing crude oil rates and foreign fund inflows aided investor sentiment though geopolitical uncertainty around the Russia-Ukraine war kept investors on the edge globally.
The Sensex gained 1,914.5 points or 3.3 percent for the week, and the Nifty50 added 517.5 points or three percent. Broader markets also strengthened, with the Nifty Midcap 100 rising 2.9 percent -- its fourth weekly gain in a row. The smallcap index rose three percent.
The Nifty Realty was the biggest gainer among NSE's sectoral gauges, rising 5.7 percent. The Nifty Bank, Private Bank, PSU Bank and Financial Services indices jumped around five percent each.
The road ahead
"The major focus will be on the Russia-Ukraine war, movement in crude prices and the RBI’s policy announcement... Volatility is expected to continue in the market until commodity prices subside and supply constraints get resolved," said Vinod Nair, Head of Research at Geojit Financial Services.
The India VIX -- known in market parlance as the fear index -- gyrated within a wide range of 18-24 last week. In late February, Russia's move to invade Ukraine had sent the gauge soaring to a 20-month high of almost 34.
"The market is moving largely in sync with its global counterparts, and positive developments on the Russia-Ukraine front could further support the rebound," said Ajit Mishra, VP Research at Religare Broking.
"Almost all the sectors are contributing to the rebound now, though the contribution of the banking pack is critical for the Nifty to test the 17,800-18,100 zone ahead. Participants should align their positions accordingly," he said.
Here are the key factors and events that are likely to influence Dalal Street in the week starting April 4:
DOMESTIC CUES
The outcome of the RBI's first monetary policy review of FY23 is due on Friday, April 8.
IPO
Hariom Pipe Industries' IPO to raise up to Rs 130 crore closes for subscription on Tuesday.
Shares of Uma Exports and Veranda Learning Solutions are likely to be listed on BSE and NSE on Thursday.
FII activity: More inflow on cards?
Foreign institutional investor (FII) flows will once again be in the spotlight. Last week, FIIs net purchased Indian shares worth Rs 5,590 crore, and domestic institutional investors (DIIs) Rs 5,052.5 crore, according to provisional exchange data.
FII trends will be tracked closely this week.
Corporate action
Company | Ex date | Purpose | Record date |
ACC | Apr 4 | Final dividend Rs 58 | Apr 5 |
Kama Holdings | Apr 4 | Interim dividend Rs 111 | Apr 5 |
Nirmitee Robotics India | Apr 4 | EGM | - |
Wipro | Apr 5 | Interim dividend Rs 5 | Apr 6 |
DISA India | Apr 7 | Interim dividend Rs 150 | Apr 8 |
Dwarikesh Sagar Industries | Apr 7 | Interim dividend Rs 2 | Apr 8 |
Edelweiss Financial Services | Apr 7 | Interim dividend Re 0.25 | Apr 9 |
EKI Energy Services | Apr 7 | Interim dividend Rs 20 | Apr 8 |
FILATEX India | Apr 7 | Share buyback | Apr 8 |
Johnson Pharmacare | Apr 7 | Bonus issue 1:10 | Apr 8 |
Narayani Steels | Apr 7 | Resolution plan suspension | Apr 8 |
Supreme Petrochem | Apr 7 | Reduction of capital | Apr 8 |
Vipul Organics | Apr 7 | Bonus issue 1:4 | Apr 9 |
Angel One | Apr 8 | Interim dividend Rs 7 | Apr 11 |
Datasoft Application Software (India) | Apr 8 | EGM | - |
GLOBAL CUES
A slew of central bank officials are due to speak during the course of the week.
PMI surveys on global manufacturing and services are due on Monday and Tuesday respectively.
Date | US | Europe | Asia |
Apr 4 | Bank of England Governor speech, 2 other BoE officials due to speak | ||
Apr 5 | 3 Fed officials due to speak | Japan services PMI | |
Apr 6 | Minutes of last FOMC meeting, crude oil stockpile, 1 Fed official due to speak | China services PMI | |
Apr 7 | Jobless data | 3 Fed officials due to speak, Germany factory output | |
Apr 8 | 1 Fed official due to speak | Japan consumer confidence |
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