Monday, 1 May 2017

Global cues, Q4 results to chart course of equity indices

Global cues, especially the upcoming US Federal Reserve's rate-setting meet, are likely to chart the course of major domestic equity indices during the week starting May 2, 2017. "US Fed speeches, FOMC (Federal Open Market Committee) rate decision and jobs data shall mean that US equities' moves would be in focus next week," Anand James, Chief Market Strategist of Geojit Financial Services, told IANS.

Consequently, investors will remain cautious over the possibility of an interest rate hike during the FOMC meet. A hike in the US interest rates can potentially drive away Foreign Portfolio Investors (FPIs) from emerging markets such as India. Later in the week, the US Bureau of Labor Statistics will report the latest US macro-statistic on non-farm payrolls. Further, market observers termed rising global geo-political tensions, the ongoing fourth quarter (Q4) results' season and upcoming macro-data as other major themes for the trade week.

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