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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MP: Decomposed body of woman found in fridge in Dewas house, former tenant being questioned
Dewas, Jan 11: The decomposed body of a woman was found inside a refrigerator in a house in Madhya Pradesh's Dewas city on Friday, following which a former tenant was taken into custody for questioning, police officials said.
The saree-clad woman, who was wearing jewellery and whose hands were tied along with a noose around her neck, may have been killed last year, an official said.
The house is located in Vrindavan Dham Colony under Bank Note Press police station limits, the official added.
"The woman is in her 30s. We suspect she was killed in June 2024. After a foul smell started emanating, neighbours called the landlord who opened a portion of the house. The woman's body was found in the refrigerator, the shelves of which had been removed. He then alerted police," Dewas Superintendent of Police Puneet Gehlot told reporters.
The house is owned by one Dhirendra Shrivastava, who lives in Indore, the SP said.
"Shrivastava had rented his house to one Sanjay Patidar of Ujjain in June 2023. A year later, Patidar vacated the house but continued to keep his belongings in a study room and the master bedroom. He told Shrivastava he would vacate this portion later," Gehlot said.
"Patidar used to visit the house once in a while. Recently, the current tenant asked the landlord to unlock this portion of the house. The landlord showed this portion of the house to the tenant but then locked it again, since Patidar's belongings were inside, and switched off power supply on Wednesday," said Bank Note Press police station inspector Amit Solanki.
The incident came to light since the refrigerator stopped working after electricity was switched off and a foul smell started emanating from that portion of the house, Solanki added.
"Patidar has been taken into custody and is being questioned," the inspector informed.
