Market Ahead, April 30: All you need to know before the opening bell

Corporate earnings, macroeconomic data, auto sales’ numbers, and global cues will be key factors affecting market sentiment this week.

Close to 149 companies, including Ambuja Cement, Concor, TVS Motors, Britannia Industries, Bandhan Bank, Dabur India, MRF, Hindustan Unilever, Tata Chemicals and Aditya Birla Capital will declare their March quarter numbers during the truncated week.

Monthly auto sales’ figures, which have been muted for a couple of months now, will be released on Wednesday.

Furthermore, the Reserve Bank of India (RBI) will release Monetary and Credit Information review, Federal Fiscal Deficit and Infrastructure Output report (YoY) on Tuesday.

The foreign exchange reserves data, to be released on Friday will also be keenly watched by investors as foreign institutional investors (FIIs) bought shares worth Rs 4,500 crore during the past week and remained net buyers. Domestic institutional investors (DIIs), however, remained in the net sellers’ category. They sold Rs 3,675.97 crore worth of equities during the last week.

Indian markets were shut on Monday, April 29, on account of 2019 Lok Sabha polls in Mumbai. They will also remain shut on Wednesday, May 1, on account of Maharashtra Day.

Globally, oil slipped during early trade on Tuesday after the US pressed OPEC to cover the shortfall caused due to economic sanctions on Iran. Brent crude futures were at $71.86 per barrel at 6:33 am, down 0.3 per cent, from their last close.

Rupee closed at Rs 70.01 a dollar, about 25 paise stronger, on April 26 (Friday). 

US Federal Reserve's two-day policy meet, which begins today with the decision due tomorrow, will also be keenly watched by investors. Besides, China’s factory output numbers will also influence sentiment. 

Asian shares fell on Tuesday as investors await US Federal Reserve policy decision. MSCI's broadest gauge of Asia-Pacific shares outside Japan was off 0.1 per cent, weighed by weakness in Korean shares which fell 0.4 per cent.

During the overnight trade in the US, both S&P 500 and Nasdaq indices ended at record closing highs of 2,943.03 level and 8,161.85 level, respectively. Dow Jones Industrial Average, however, eked out a 0.04 per cent gain to end at 26,554.39 level.