After the last week's RBI monetary policy, which maintained status quo in interest rates, all eyes in the coming week will be on inflation and industrial output numbers.
In its policy review, the apex bank had said that inflation is expected to be at elevated levels during the second quarter but may ease in the second half of the current fiscal year.
"Going ahead, global cues and earnings would continue to dictate the market trend. Besides, macroeconomic data
IIP and CPI
inflation, update on vaccine trials and Covid-19 situation would be closely tracked by the participants," Ajit Mishra, VP-Research, Religare Broking Ltd, said.
Meanwhile, a record single-day spike of 64,399 Covid-19 cases pushed India's virus caseload to 2,153,010, while the death toll climbed to 43,379, official data showed.
Globally, the number of coronavirus
infection cases neared 2-crore mark and the death toll was well above 7 lakh.
Among major earnings to be announced this week are Bank of Baroda, Central Bank of India, BPCL, Hero MotoCorp, MRF and NTPC.
"Investors will closely monitor the upcoming quarterly results and tensions between US and China," Sumeet Bagadia, Executive Director, Choice Broking, said.
Last week, the Sensex advanced by 433.68 points or 1.15 per cent and the broader Nifty gained 140.60 points or 1.26 per cent.
are awaiting and will definitely be impacted by the heightened US-China tensions and imminent Chinese reaction. Earnings specific action will likely continue this week, with indices searching for direction in the near term," said Vinod Nair, Head of Research at Geojit Financial Services.
Along with all the above-mentioned factors, movement in global oil benchmark Brent crude and currency market trend would be monitored by investors.