Earnings reports and fed decision to steer equity market

Earnings reports: In the upcoming holiday-shortened week, market movements in the domestic equity sphere will hinge heavily on quarterly earnings updates from corporations, the awaited US Federal Reserve's interest rate decision, and global economic trends, analysts forecast.

Alongside corporate performances, factors such as foreign investors' trading activity, fluctuations in the global oil benchmark Brent crude, and the trajectory of the rupee-dollar exchange rate are anticipated to sway trading sentiments.

With Wednesday marking a market closure due to Maharashtra Day, attention will be focused on the next wave of Q4 earnings disclosures and monthly auto sales figures set to be unveiled at the start of May, stated Santosh Meena, Head of Research at Swastika Investmart Ltd.

Moreover, analysts emphasised the significance of the US Federal Open Market Committee's meeting outcome on May 1st, economic indicators from China and the US, and currency market movements on the global stage.

Major corporate players like Tata Chemicals, the Central Bank of India, the IOC, Adani Group entities, MRF, and Titan are scheduled to unveil their earnings this week, underscoring the event's potential impact on market dynamics.

Vinod Nair, Head of Research at Geojit Financial Services, stressed the influence of the US Federal Reserve's policy stance and employment data alongside ongoing Q4 earnings reports on global and domestic market trajectories.

Looking ahead, Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd, anticipates a focus on stock-specific actions amidst the ongoing result season and sector rotations, buoying market momentum witnessed in the previous week's performance.

(with PTI inputs)