NEW DELHI, May 29: The last leg of corporate results from blue-chips like Tata Motors and NTPC and the progress of monsoon rains will be key to stock market movement this week, say experts.
Besides, auto stocks will take centre-stage as monthly sales data roll in.
“The last batch of Q4 corporate results, update on movement of monsoon rains and trend in global financial markets will dictate the near-term trend on stock markets. To begin with, global markets on Monday will react to comments from US Federal Reserve Chair Janet Yellen,” said Vijay Singhania, founder-director, Trade Smart Online, a brokerage house.
Also, this week, on the macroeconomic front, GDP numbers are due to be announced, he added.
“Auto sale numbers for May will be announced this week. Quarterly results of a few big companies like Tata Motors, Aurobindo Pharma, NTPC and M&M will also be announced this week,” said Nirdosh Gaur, MD and CEO, Moneypalm, which deals in brokerage activity.
Shares of Coal India and Hindalco may also react on Monday to their results which were announced on Saturday.
Also, purchasing managers’ index (PMI) data for services and manufacturing sectors are scheduled for this week, which will have some bearing on trading.
For the week, the Sensex climbed 1,351.70 points, or 5.34 per cent while NSE Nifty surged 406.95 points, or 5.25 per cent. For both the indices, the jump is their biggest weekly gain since March 4. (PTI)
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