New Delhi: The last leg of corporate results from blue-chips like Tata Motors and NTPC and the progress of monsoon rains will be key to stock market movement during the week starting May 30, say experts.
Besides, auto stocks will take centre-stage as monthly sales data roll in.
“The last batch of Q4 corporate results, update on movement of monsoon rains and trend in global financial markets will dictate the near-term trend on stock markets. To begin with, global markets on Monday will react to comments from US Federal Reserve Chair Janet Yellen,” said Vijay Singhania, founder-director of Trade Smart Online, a brokerage house.
Also, on the macroeconomic front, GDP numbers are slated to be announced during the week, he added.
“Auto sale numbers for May will be announced this week. Quarterly results of a few big companies like Tata Motors, Aurobindo Pharma, NTPC and M&M will also be announced this week,” said Nirdosh Gaur, MD and CEO of Moneypalm, which deals in brokerage activity.
Shares in Coal India and Hindalco may also react on Monday to their results that were announced on Saturday.
Also, purchasing managers’ index (PMI) data for services and manufacturing sectors are scheduled during the week, which will have some bearing on trading.
On a weekly basis, the Sensex has climbed 1,351.70 points, or 5.34 per cent, while the NSE Nifty surged 406.95 points, or 5.25 per cent. For both the indices, the jump is their biggest weekly gain since March 4.