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Results and inflation rate to dictate equity’s trend (Market Outlook)
By Rohit Vaid
Mumbai, April 8 (IANS) The upcoming quarterly results season, along with the release of macro-economic data points on industrial production and inflation, are expected to determine the trajectory of key equity indices next week.
According to market observers, global cues such as concerns over trade protectionist measures between the US and China, combined with the direction of foreign fund flows and crude oil prices, will also impact investors’ risk-taking appetite.
“On the domestic front, the inflation, IIP and trade deficit data would be closely watched, especially after the growth forecasts offered by RBI (Reserve Bank of India) in its policy,” Devendra Nevgi, Founder and Principal Partner, Delta Global Partners, told IANS.
“The earnings season begins next week with Infosys being the first large cap company to declare its quarterly numbers, the numbers will set the tone for the sector.”
The Q4 earnings result season will kick off from next week. IT major Infosys is expected to be the first bluechip firm to come out with its Q4 result on April 13.
Apart from the Q4 results, investors will look out for the upcoming macro-economic data points such as the IIP (Index of Industrial Production) and the Balance of Trade figures.
The Central Statistics Office (CSO) is slated to release the macro-economic data points of IIP and CPI (Consumer Price Index) on April 12.
On the global front, fears over further imposition of trade protectionist measures between the US and China can unleash volatility.
“Market participants would closely watch each developments on the trade war between the US and China,” D.K. Aggarwal, Chairman and Managing Director of SMC Investments and Advisors, told IANS.
“However, decreasing inflation, accelerating growth and an economy that relies on domestic consumption is expected to remain less affective from the escalating trade war between the US and China. Market is expected to remain volatile going forward tracking global cues.”
On technical levels, the underlying trend of the National Stock Exchange’s (NSE) Nifty50 remains bullish.
“Technically, the Nifty is now in an uptrend and further upsides are likely once the immediate resistance of 10,350 points is taken out,” said Deepak Jasani, Head of Retail Research for HDFC Securities.
“Crucial supports to watch for any weakness is at 10,208 points.”
Last week, the key Indian equity indices — the BSE Sensex and the NSE Nifty50 — rose for the second consecutive week due to prospects of normal monsoon rains, lower inflation and a positive growth outlook.
Consequently, the barometer 30-scrip Sensitive Index (Sensex) of the BSE gained a massive 658.29 points or almost 2 per cent to close at 33,626.97 points.
Similarly, the wider Nifty50 of the National Stock Exchange (NSE) made healthy gains. It closed trade at 10,331.60 points — up 217.9 points or 2.15 per cent from its previous week’s close.
(Rohit Vaid can be contacted at [email protected])
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
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