The domestic equity markets will be driven by ongoing quarterly earnings announcements and global factors this week, analysts said.
Besides, the trading activity of Foreign Portfolio Investors (FPIs) would also be tracked.
“In the domestic market, the March 2023 quarterly earnings season and Karnataka assembly elections will be in focus. Asian Paints, Cipla, Eicher Motors, Larsen & Toubro and UPL Q4 earnings are in the pipeline for this week,” Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, said.
The movement of the rupee against the dollar and crude oil prices will also remain in focus, Gour said.
“Global markets are in a brittle mode because everyone is eyeing US regional banking systems (small banks), which are in trouble,” he added.
Also, Apollo Tyres, Indian Overseas Bank and Tata Motors would announce their earnings this week.
“This week, participants will be eyeing macroeconomic data viz. IIP and CPI for cues on May 12. Besides, the US inflation, which i
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