In the week ended 21 February, the Indian stock market was swinging between losses and profits. BSE's Sensex managed to climb back to above the 41,000 level and NSE's Nifty 50 ended the week over 12,000 points.
While the fall in oil prices amid coronavirus (now known as COVID-19) concerns reduced the burden on the economy, the Supreme Court's verdict on the AGR issue affected telecom and banking stocks.
Trading holidays and changes in the global markets also had an impact.
Further, all Nifty 50 companies, except Yes Bank, have declared their financial results for the December quarter, ending the earnings season.
Here are some factors to watch out for the 28 February ending week:
1. Trump's comments
US President Donald Trump's first official visit to India is scheduled for 24-25 February. While his administration has acknowledged that Trump's visit will not result in even a limited trade deal, an American President's visit to a country is considered significant. Further, Trump's comments are known to have triggered markets in the past.
Trade talks between the countries will continue, but new Indian tariff proposals aimed at strengthening "Make in India" to encourage domestic manufacturing push have made them more difficult, a US official told Reuters. New tariffs were also announced on imported toys, electronics and other products in the recent Budget.
These concerns will be addressed in the conversations between the leaders of two of the largest economies in the world.
Defence stocks might be in focus as Trump's visit comes against the backdrop of India's multibillion-dollar purchase of a Russian missile shield system.
As Chinese authorities continue to work on controlling the spread of COVID-19, that has already killed over 2,000 people in the country, it has made some policy changes to enable the gradual return of workers in its major industries including manufacturing and technology.
On Friday, China's Commerce Ministry said people resuming work in the country's top exporting province of Guangdong has been "rapidly increasing." Resumption of work in key businesses in foreign trade in provinces such as Zhejiang and Shandong is seen at around 70 percent, a CNBC report said.
China's slow limp to normalcy will encourage Asian markets, including India, as many industries, especially in the auto, pharma and electronics sector were hit by raw-material constraints.
3. Coronavirus (COVID-19)
In Iran, where there were no reported COVID-19 cases, at least 4 people have been surprising reported dead from the virus, according to health officials. The surge of cases outside China has raised fears that it could be transformed into a global pandemic.
The US now has 34 cases, Italy 17 and a sudden surge in the number of cases in South Korea has been reported.
"The cases that we see in the rest of the world, although the numbers are small, but not linked to Wuhan or China, it's very worrisome," said Tedros Adhanom Ghebreyesus, director-general of WHO on Friday at a news conference. "These dots are actually very concerning," he added.
The uncertainty of the duration and effect of the outbreak has impacted the stock markets over the month as amid concerns that it could hurt global consumption and economic growth.
Worries of economic slowdown also caused gold prices in India to touch a new all-time high as investors flocked towards safe-haven assets. On MCX, gold futures (April 2020) touched a high of Rs 42,790/10 grams on Friday.
4. Q3 GDP data
On 28 February, the National Statistical Office (NSO) will release the official data of GDP (gross domestic product) growth of India for the December-ended quarter. In the previous quarter (July-September 2019), GDP growth had hit a 6-year low of 4.5 percent.
The data will likely be out after market hours, but there may be movement in the market in anticipation of the results.