<p>This week, we expect momentum in market to continue with Nifty likely headed towards 18,200 zones. In April, Nifty showed resilience despite global headwinds, gaining over 4 per cent - the best in last 5 months and also managed to close above the crucial 18,000 mark. </p>.<p>This week would be crucial on the global front as US Fed and European Central Bank (ECB) policy meetings are lined-up. Also, PMI data from US and India would also be keenly watched to gauge economic growth. On the domestic front, markets will remain closed on Monday on account of Maharashtra Day. Investors would continue to track Q4 results along with global cues and monthly Auto sales data.</p>.<p>Last week, Nifty bounced back strongly with gains of 2.5 per cent, to close at 18,065 levels. The rally was on the back of healthy Q4 earnings. FIIs have turned positive in the last two days after remaining sellers for some time, thus adding to overall positivity. Broader market too showed positive momentum with Nifty Midcap100/Nifty Smallcap100 gaining 2.3 per cent/3.2 per cent. For the month, Midcap100/Smallcap100 rallied 5.9 per cent/7.5 per cent.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/medical-bills-too-heavy-bring-down-your-out-of-pocket-costs-1214431.html" target="_blank">Medical bills too heavy? Bring down your out-of-pocket costs</a></strong><span> </span><span> </span><span> </span><span> </span><span> </span><span> </span></p>.<p>Among the sectors, PSU banks were the biggest gainers (7.3 per cent) followed by Realty (5 per cent). Fall in 10 year Bond Yield to 1 year low and robust numbers from Bank of Maharashtra led to the rally in the PSU banks. The Nifty FMCG index surged to all-time high levels and ended the month with gains of 2.5 per cent. Healthy results from Tata Consumer, Nestle and HUL reflected an improvement in demand and an easing of inflationary cost pressures.</p>.<p>Global cues turned positive during last week, post impressive earnings reports from tech heavyweights, fall in oil prices and expectation of rate pause signals by US Fed in the upcoming policy meeting, especially post poor GDP data. With US GDP expanding by 1.1 per cent in the first quarter, we expect another rate hike of 25bps. But the meeting will be crucial from the commentary perspective as investors would look out for signals with regarding rate pause.</p>.<p>The IPO market is back in action with Mankind Pharma hitting the street with an offer size of Rs 4,326 crore. The issue opened on 25th April for investors with a price band of Rs 1,026 – 1,080. The IPO was subscribed 15.3 times and witnessed strong interest from institutional buyers as the QIP segment was oversubscribed 49x.</p>.<p>The result season would keep investors busy in a truncated week with numbers expected from several heavyweights like Titan, HDFC Ltd, Tata Steel, HeroMoto, TVS Motors, Coal India, Ambuja Cement and Dabur Havells.</p>.<p>(The writer heads retail research at Motilal Oswal Financial Services Limited)</p>
<p>This week, we expect momentum in market to continue with Nifty likely headed towards 18,200 zones. In April, Nifty showed resilience despite global headwinds, gaining over 4 per cent - the best in last 5 months and also managed to close above the crucial 18,000 mark. </p>.<p>This week would be crucial on the global front as US Fed and European Central Bank (ECB) policy meetings are lined-up. Also, PMI data from US and India would also be keenly watched to gauge economic growth. On the domestic front, markets will remain closed on Monday on account of Maharashtra Day. Investors would continue to track Q4 results along with global cues and monthly Auto sales data.</p>.<p>Last week, Nifty bounced back strongly with gains of 2.5 per cent, to close at 18,065 levels. The rally was on the back of healthy Q4 earnings. FIIs have turned positive in the last two days after remaining sellers for some time, thus adding to overall positivity. Broader market too showed positive momentum with Nifty Midcap100/Nifty Smallcap100 gaining 2.3 per cent/3.2 per cent. For the month, Midcap100/Smallcap100 rallied 5.9 per cent/7.5 per cent.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/medical-bills-too-heavy-bring-down-your-out-of-pocket-costs-1214431.html" target="_blank">Medical bills too heavy? Bring down your out-of-pocket costs</a></strong><span> </span><span> </span><span> </span><span> </span><span> </span><span> </span></p>.<p>Among the sectors, PSU banks were the biggest gainers (7.3 per cent) followed by Realty (5 per cent). Fall in 10 year Bond Yield to 1 year low and robust numbers from Bank of Maharashtra led to the rally in the PSU banks. The Nifty FMCG index surged to all-time high levels and ended the month with gains of 2.5 per cent. Healthy results from Tata Consumer, Nestle and HUL reflected an improvement in demand and an easing of inflationary cost pressures.</p>.<p>Global cues turned positive during last week, post impressive earnings reports from tech heavyweights, fall in oil prices and expectation of rate pause signals by US Fed in the upcoming policy meeting, especially post poor GDP data. With US GDP expanding by 1.1 per cent in the first quarter, we expect another rate hike of 25bps. But the meeting will be crucial from the commentary perspective as investors would look out for signals with regarding rate pause.</p>.<p>The IPO market is back in action with Mankind Pharma hitting the street with an offer size of Rs 4,326 crore. The issue opened on 25th April for investors with a price band of Rs 1,026 – 1,080. The IPO was subscribed 15.3 times and witnessed strong interest from institutional buyers as the QIP segment was oversubscribed 49x.</p>.<p>The result season would keep investors busy in a truncated week with numbers expected from several heavyweights like Titan, HDFC Ltd, Tata Steel, HeroMoto, TVS Motors, Coal India, Ambuja Cement and Dabur Havells.</p>.<p>(The writer heads retail research at Motilal Oswal Financial Services Limited)</p>