Next batch of January to March 2018 quarterly earnings, trend in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will dictate trend on the bourses next week.
The movement of rupee against the dollar and crude oil prices will be monitored keenly. Brent crude hovers near $80 per barrel mark. Spike in oil prices raises India’s import bill as the country imports majority of its crude requirements. A weak rupee raises the cost of importing crude oil.
On the political front, post-poll uncertainty in Karnataka may keep investors on edge. The Supreme Court has reportedly directed for floor test in Karnataka Assembly at 16:00 IST on 19 May 2018, after hearing Congress-Janata Dal Secular (JDS) plea against Karnataka Governor inviting Bharatiya Janata Party (BJP) to form government. BJP’s B.S. Yeddyurappa was on 17 May 2018, sworn in as chief minister of Karnataka. The swearing-in came after a four-hour, post-midnight Supreme Court hearing on a Congress-JDS petition that sought to quash his candidature.
Among corporate earnings, Colgate-Palmolive (India), Just Dial and Mahanagar Gas will announce January-March 2018 results on 21 May 2018.
Bata India, Cipla, Dr Reddy’s Laboratories, Indian Oil Corporation and State Bank of India will announce January-March 2018 results on 22 May 2018.
Godrej Industries, Grasim Industries and Tata Motors will announce January-March 2018 results on 23 May 2018.
Gail (India), Glaxosmithkline Pharmaceuticals and MOIL will announce January-March 2018 results on 24 May 2018.
Bank of Baroda, BEML, Cadila Healthcare, Engineers India, Hindustan Copper, NBCC (India), Sun Pharmaceutical Industries and Tech Mahindra will announce January-March 2018 results on 25 May 2018.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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