Geo-political risks, ongoing Q4 results to steer equity indices
Mumbai, May 6: Geopolitical risks, coupled with the ongoing quarterly results season and macro-economic data points, are expected to influence the trajectory of key Indian equity indices next week, analysts opined.
According to market observers, even the upcoming state assembly election in Karnataka, along with crude oil price fluctuations as well as the direction of foreign fund flows and the rupee's movement against the US dollar will impact investors' risk-taking appetite.
"Two important events will drive the market sentiments during the next two weeks. First, is the outcome of the US-Iran nuclear deal and the other is the Karnataka elections, especially BJP's performance,"said Devendra Nevgi, Founder and Principal Partner, Delta Global Partners.
"The (expected) breakdown of the US-Iran deal and the ensuing sanctions on Iran would lead to a rise in crude oil prices and in geopolitical risks. And a poor performance by BJP in Karnataka would raise the political risk premium on India."
Besides these, the ongoing results season will play an important role in determining the equity indices' movement.
Companies like ICICI Bank, Pfizer, Tata Chemicals, ABB India, Sun Pharma Advanced Research, Eicher Motors, Jindal Steel & Power, Oriental Bank of Commerce, Adani Transmission, Apollo Tyres, Asian Paints and SpiceJet are expected to announce their Q4 earning results next week.
"Result season will gather pace in the coming weeks with major heavyweights set to unveil their results; as per recent history, results during the second phase are dull," said Vinod Nair, Head of Research at Geojit Financial Services.
Apart from Q4 results, investors will look out for upcoming macro-economic data points such as the country's fiscal deficit numbers and industrial production figures which will be released during the week starting May 7.
In addition, Nair said that outflow of "foreign funds due to rich valuation is a concern to the market".
In terms of investments, provisional figures from the stock exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 2,688.05 crore, while the domestic institutional investors (DIIs) purchased stocks worth Rs 932.99 crore during the week.
Figures from the National Securities Depository (NSDL) revealed that foreign portfolio investors (FPIs) divested equities worth Rs 1,351.85 crore, or $202.56 million, during May 2-4.
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Asaduddin Owaisi pays tribute to SM Syed Khalil, calls him great personality of Nawayat Community
Hyderabad: Hyderabad MP and AIMIM Chief Asaduddin Owaisi expressed his condolences on the passing of SM Syed Khalil, a prominent businessman and philanthropist from Bhatkal. In a tweet, Owaisi referred to Syed Khalil as “Khalil Bhau,” fondly acknowledging his significant contributions to the Nawayat community and his work for the poor and needy.
“My condolences to the family of SM Syed Khalil saheb. He was affectionately called as Khalil Bhau, a great personality from the Nawayat Community. He headed many social organizations and helped many poor and needy people. A great loss to the people of Bhatkal. Will miss you, Khalil Bhau,” Owaisi tweeted.
SM Syed Khalil, who passed away in Dubai early Thursday morning after a brief illness, was a respected leader in the Nawayat community and a source of pride for Bhatkal. Known for his extensive contributions to international trade, education, and social service, Khalil’s life was marked by a commitment to uplift the underprivileged and strengthen community ties.
Among his many achievements, Syed Khalil was the Founder Chairman of K&K Enterprises in Sharjah and played a pivotal role in the success of the Galadari Company in Dubai over three decades. He also served as the Chairman of Madhyama Communications Ltd., Mangalore, and was actively involved in promoting Kannada and Konkani languages and culture.
In Bhatkal, he was a guiding force behind institutions like Anjuman Hami-e-Muslimeen and Rabita Society, where he championed girls’ education and worked to improve opportunities for the community. His leadership, humility, and compassion earned him widespread respect, and his contributions extended far beyond Bhatkal, touching lives across Karnataka and beyond.
My condolences to the family of SM Syed Khalil saheb he was affectionately called as Khalil Bhau a great personality from Nawayat Community,he headed many social organisations helped many poor and needy people,great loss to the people of Bhatkal ,will miss you Khalil bhau pic.twitter.com/piHjCCRD5d
— Asaduddin Owaisi (@asadowaisi) November 21, 2024
