Equity indices extended gains for the first week of new fiscal year and clocked its best second weekly performance amid trade worries between the US and China. On the week ended Friday, the NSE Nifty Index closed at 10,331.60, up by 6.45 points, while the BSE Sensex index closed higher at 33,626.97, up by 30.17 points.
It was a reasonable rally for the market this week, however Volatility is expected to continue for the coming week also, on the back of trade tensions between the US and China.
Banking shares witnessed good buying momentum after the Reserve bank of India kept policy rates affected and forecast a higher growth in the midst of lower inflation rates.
On a weekly basis, the BSE Sensex gained 2 percent at 658.30 points, while the NSE Nifty rose 218 points, or 2.16%.
In the coming week also, volatility is expected to continue in view of trade tensions between US and China. Markets are expected to keep up precautious ahead of the earnings season.
Looking to the coming week, some prominent companies scheduled to announce their fourth quarter results from next week. Reliance Industrial Infrastructure Limited and VST Industries Limited declare Q4 March 2018 results on Thursday, 12 April 2018. Subsequently, the global technology leader Infosys Limited will declare its fourth quarter results on Friday, 13 April 2018. The stocks will be watched out on the days in view of this.
On macro front, the industrial production data for February 2018 will be announced by the govt on Thursday, 12 April 2018. The same day, it will also disclose inflation data based on consumer price index for March 2017.
The elections in Karnataka to be conducted in May, would be the next big trigger in the domestic front.