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The key Indian equity benchmarks may witness a gap down opening on Monday tracking a sell-off in global stock markets as weak US consumer data raises worries over the health of the world’s biggest economy, curbing the lure for risky assets. The CNX Nifty Index Futures for May delivery fell by 0.67 per cent or 52.5 points at 7,840 at 10:48 AM Singapore time, also signaling that Dalal Street may open lower today.
This week, shares of HDFC, Adani Ports and Hero MotoCorp will be in focus as the companies unveil their report cards for the quarter ended March 31, 2016. Also, the April manufacturing PMI, a snapshot of the health of the country’s manufacturing sector, will be released today. India’s manufacturing PMI in March came in at 52.4, with a reading above 50 signaling expansion.
Monthly auto sales data, events in the Budget Session of Parliament, foreign investment trend, global stock market trend and movement of crude oil prices will also dictate the direction of Dalal Street this week. Marking a quiet finish to the week amid lackluster global cues and mixed corporate earnings numbers, the 30-share Sensex on Friday closed at 25,606.62, up by 3.52 points or by 0.01 per cent while plunging 231.52 points for the week, snapping a two-week advance.
