Week ahead auto sales, q4 earnings among 10 things to keep d-street busy – moneycontrol.com electricity bill cost per month

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Auto players continue to clock strong growth in their sales volume in April. The performance continues to be robust for all segments primarily because of the base effect. The transition from BS III to BS IV emission norms last year led to pre-buying and consequently very little demand in April 2017.

Among the key names to declare results are Apex Frozen Foods, Aurobindo Pharma, Bank of India, Cox and Kings, Emkay Global, Finolex Cables, Gujarat State Financial Corporation, IG Petrochemicals, Karda Constructions, Kwality, Ladderup Finance, Larsen and Toubro, Oil India, ONGC, and Coal India, among others. The Street will keep an eye on their earnings’ trends.

Back home, investors will watch out for key economic data such as infrastructure output for the month of April. The government will also release GDP growth rate for the first quarter of this fiscal. Estimates place the figure to be around 7 percent versus 7.2 percent in the previous quarter. Consensus estimates for GDP stand at 7.4 percent.

Bank of Baroda posted a net loss of Rs 3,102.34 crore in the March quarter, missing estimates due to a jump in provisions for bad loans. In the fourth quarter last year, the net profit was Rs 155 crore. Provisions for non-performing assets for the quarter rose by 190 percent YoY to Rs 7,052.53 crore in Q4.

IDBI Bank’s net loss widened for the March quarter to Rs 5,662.76 crore YoY on weakening asset quality and rise in provisions. The loss reported a year ago stood at Rs 3,199.77 crore, highest by a bank in the fourth quarter ending 2017. In the December end 2017 quarter, the loss stood at Rs 1,524 crore.

“There are many global determinants of crude prices over and above demand supply. Having said that today (on Friday) only we have seen prices of crude falling and losing some strength. News in public domain says that supply is going to be better in near term. Therefore, the price momentum is losing strength as of now,” Anita Gandhi, Wholetime Director of Arihant Capital Markets told Moneycontrol.

The 50-share index is now trading above its crucial short-term moving averages and today’s intraday low of 10,524 will be of big importance in the coming week, suggest experts. A break below this level could again put further pressure on the index amid expiry week volatility.

The short term trend of Nifty is positive, but current upside bounce is unlikely to hold for a long. The key weekly resistance of 10,750 levels (previous weekly opening down gap-pink dashed line) is expected to weigh high on the market in coming weeks, HDFC Securities said in a report.

Trends as per investors in foreign institutional and domestic investors’ segment reveals that DIIs have been net buyers in May. They have managed to buy net Rs 11,750 crore worth of shares, while FIIs have remained sellers worth Rs 9,150 crore worth of shares.After the month of February, this is the first month that DIIs have returned to the market in a big way, clocking a five-figure mark in terms of buying. Having said that, on a year to date basis, it is important to note that they have been the constant show of support for the market, remaining net buyers in 5 months of this year so far.