New Delhi: Equity markets are expected to remain choppy for the next few days amid the ongoing earnings season and Lok Sabha elections, with macroeconomic data taking centre stage this week, say analysts.
"This week there are multiple data that will be watched, mainly industrial production and manufacturing production," said Mustafa Nadeem, CEO, Epic Research.
PMI data for the services sector too is due early this week.
"Markets are expected to remain choppy in the next few weeks due to quarterly numbers of companies and the result outcome overhang," said Jimeet Modi, Founder and CEO, SAMCO Securities and StockNote.
"Airtel, ICICI Bank, HCL Tech will declare their March quarter results this week," said Manish Yadav, Head of Research, CapitalAim.
Other prominent earnings are from Canara Bank, Indian Overseas Bank and Vedanta.
"Nifty is facing stiff resistance near 11,800 levels given mixed Q4 results so far and premium valuation. Though FIIs flow continue to be unabated, DIIs and retail participants are on a profit-booking mood.
"Drop in oil prices and an expected supply increase from OPEC will add some positive vibes for the market. We may continue to see extension of volatility in market given mixed corporate earnings and general elections," said Vinod Nair, Head of Research, Geojit Financial Services.
Over the last week which had two trading holidays, the Sensex fell 104.07 points, or 0.26 per cent; while the Nifty shed 42.40 points, or 0.36 per cent.
The BSE key index fell 18.17 points to close at 38,963.26 on Friday.
During the last week, the rupee climbed 80 paise.
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