With just three trading days this week, Indian markets are expected to be volatile amid various factors including movement in crude prices and corporate announcements.
Note that NSE and BSE will be closed on Monday and Wednesday on account of voting in Mumbai and Maharashtra day, respectively.
1. Quarterly results
Some major stocks are scheduled to announce their results for the last quarter of 2018-19 this week. Kotak Mahindra Bank and TVS Motors on 30 April, Tata Power on 2 May and Hindustan Unilever on 3 May, among others.
2. Auto sales
The automobile makers will be in focus this week as their disclose their sales for the month of April. In March, domestic sales were reported to be lower on account of higher borrowing costs and increased fuel prices hurting consumer sentiments.
3. Crude prices
Concerns of rise in crude prices, that have rallied 33 percent in 2019, are back on the table.
The Trump administration has decided not to renew the exemptions on US sanctions imposed on Iranian imports for major buyers including India. The waiver period of 6 months will end on 2 May, and the focus is now shifted on voluntary supply cuts that were imposed by the Middle East dominated producer club OPEC (Organisation of Petroleum Exporting Countries) since the beginning of this year.
American President Donald Trump indicated that he has spoken to the OPEC to raise output to bring prices down, easing oil prices on Monday morning, however, volatility can be expected this week.
4. Federal Reserve Policy Meet
On Friday, the USA's GDP for the first quarter of 2019 was reported at 3.2 percent annualized rate, which is higher than expected considering the country's the month-long government shutdown that ended on 25 January.
It is expected that the US Federal Reserve will rethink its stance on the monetary policy that indicated that there would be no interest rate hikes in 2019 and that its balance-sheet reduction program will end in September.
The result is uncertain considering that its inflation level remains below the alarm threshold and unemployment has been at its lowest in years. The markets all across the globe will be keen to watch the outcome which will be out on Wednesday night (Indian time).
The rupee's movement against the US dollar will also impact market sentiment as crude oil prices fluctuate and American currency gains from euro's fall. The change in value will be highly dictated by movement in oil prices.