For the week, key indices Nifty and Sensex closed down 0.2 per cent each, while Nifty Bank slipped 0.5 per cent.
Indian market staged a recovery in last hour of trade on Friday to close in the positive. Nifty closed above the 11,600 mark.
For the week, key indices Nifty and Sensex closed down 0.2 per cent each, while Nifty Bank slipped 0.5 per cent. Among the Nifty gainers were Wipro 8.2 per cent, Tata Motors 5.2 per cent, Bajaj Auto 5.1 per cent, Cipla 4.2 per cent and HUL 3.8 per cent, whereas Indiabulls Housing Finance -7.7 per cent, Asian Paints -5 per cent, Vedanta -4 per cent and Bharti Airtel -4 per cent were among the Nifty losers.
Here’s a look at some of the events which will guide markets this week:
Reaction to IIP & CPI numbers released post-market hours on Friday
India’s industrial growth in February fell to its lowest in 20 months. Represented by Index of Industrial Production (IIP), the growth slowed down to 0.1 per cent in February, against 1.7 per cent in January. Growth in capital goods was the biggest laggard in February at -8.8 per cent, compared with -3.2% in January, while growth in infrastructure goods stood at 2.4 per cent, against 7.9 per cent in January. IIP for the month of January was revised to 1.4 per cent, compared with 1.7 per cent earlier.
The country’s Consumer Price Index (CPI)-based retail inflation came in at 2.86 per cent in March. Vegetables inflation cooled to -1.49 per cent, but core inflation remained above 5 per cent.
Infosys and TCS stock reaction post Q4 earnings
Infosys stock is expected to open muted on Monday. The country's second-largest software services firm’s fourth quarter (Q4) net profit increased by 13 per cent quarter-on-quarter (QoQ) to Rs 4,074 crore. Its revenue guidance for financial year 2019-20 (FY20) in constant currency terms was at 7.5-9.5 per cent, which was below expectation.
The country's largest software services firm, Tata Consultancy Services (TCS), Friday reported a 17.7 per cent growth in consolidated net profit at Rs 8,126 crore for the March 2019 quarter. Its FY19 dollar revenue crossed $20 -billion mark.
With TCS and Infosys kicking off the earnings season, country's third-largest software services provider Wipro will announce its fourth quarter results on Tuesday. Its board will also consider a share buyback plan on April 16. Other major companies scheduled to post their Q4 earnings this week are HDFC Bank, Hathway Cable, Reliance Industrial Infra, Mastek, Den Networks, CRISIL, MindTree, ICICI Lombard, Tata Sponge Iron, RBL Bank and Tata Coffee.
Phase -2 polls of Elections 2019
The second phase of Lok Sabha Elections 2019 will take place on Thursday, with as many as 97 constituencies in 13 states going to polls. Assam (5), Bihar (5), Chhattisgarh (3), J&K (2), Karnataka (14), Maharashtra (10), Manipur (1), Odisha (5), Tamil Nadu (39), Tripura (1), Uttar Pradesh (8), West Bengal (3), Puducherry (1) will see polling in the second phase. The Election Commission had said on Saturday that the voter turnout in the first phase was 63 per cent, subject to updation. The first phase turnout in the same seats in 2014 is pegged at less than 70 per cent.
The India Meteorological Department (IMD) is expected to release its first forecast for the rainfall expected in this monsoon season this week as it is waiting for a go ahead from the Election Commission. Earlier, private agency Skymet forecasted a 'Below Normal' monsoon for 2019, with zero per cent chance of excess rain, 30 per cent chance of normal monsoon, 55 per cent chance
of a below-normal monsoon and a 15 per cent chance of drought.
Macro Eco data
After an in-range CPI and dismal IIP, market will be eyeing the March wholesale price index (WPI) inflation data, which is expected to at 3.2 per cent. Also, trade data for the month of March is expected to be released on Monday.