Summary: Corporate action, crude oil prices, the US-China trade talks, phase 5 of the 2019 Lok Sabha elections and macro-data on industrial production would be the key triggers for Indian indices this week. India's Service PMI for the month of April 2019 will be out on May 6 followed by Industrial Production and Manufacturing production for April Month (YoY) on May 10 Benchmark indices, BSE Sensex and NSE Nifty, both remained range bound during the past week and closed at 38,963, and 11,712 levels respectively. On a weekly basis, the Sensex was down 0.26 per cent, while the Nifty closed 0.36 per cent lower. Earnings corner Over 150 companies, including Marico, SBI, and IOC, are scheduled to declare their March quarter earnings this week. Banking and telecom majors ICICI Bank and Bharti Airtel, respectively, will declare their results later today. Lok Sabha elections Voting for phase 5 of the 2019 Lok Sabha elections will be held today in about 51 seats across Bihar, Jharkhand, Uttar Pradesh, West Bengal, Madhya Pradesh, Rajasthan, and Jammu and Kashmir. FII & DII data Most of the rally witnessed during the past week was supported by foreign institutional investors (FIIs), who remained net buyers during the week to the tune of Rs 311.45 crore. The domestic institutional investors (DIIs) were net sellers as they continued to prefer profit booking, and sold Rs 4.6 crore worth of equities in the last week. Oil and Rupee Brent crude futures were trading at $69.11 a barrel at 6.45 am on Monday, down 2.46 per cent. The domestic currency closed at Rs 69.22 against a dollar on Friday, against Thursday’s close of Rs 69.35. Global cues The US President, Donald Trump’s, “surprise pressure” on China to reach a trade deal would create turmoil in the markets across the globe. Trump has said he would raise tariffs on $200 billion of goods to 25 percent on Friday from 10 per cent. In early Asian trade, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 per cent. During the overnight trade, Dow Jones Industrial Average was up 0.75 per cent to settle at 26,505, S&P500 was up 0.96 per cent at 2,946 and Nasdaq gained 1.58 per cent to settle at 8,164 levels.
