Covid, Q4 earnings, vaccination among key factors that may guide market this week
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Among Nifty stocks, Bharti Airtel, Tata Motors, Indian Oil Corporation, State Bank of India, Shree Cement, JSW Steel and Hindalco will announce the march quarter earnings.
Nifty50 behaved in line with global indices and closed in the red on a weekly basis. The index failed to retest the immediate resistance zone of 15,000 as it is facing pressure at higher levels.
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NEW DELHI: The domestic equity market began the week on a high note, hoping that the pandemic will eventually peak out and the economy will recover sooner than expected. However, the euphoria fizzled out soon as investors turned wary of inflation in India and the US, with analysts expecting central banks to start tapering soon. Higher bond yields globally may result in further outflows. However, upbeat Q4 numbers provided some breather, but the action remained stock specific.