Traders will continue to monitor foreign fund flows after the recent sell-offs on concerns over taxation rules.
Indian debt and forex markets to remain ranged next week with a downward bias ahead of the Fed meeting outcome
The US Federal Reserve’s two-day meeting outcome is due to be announced on Wednesday evening. The benchmark 10-year bond yield is seen moving in a 7.75 to 7.85 percent range.
Traders will continue to monitor foreign fund flows after the recent sell-offs on concerns over taxation rules. The partially convertible rupee is expected to hold in a 63.10 to 64.70 range next week.
The NSE index is expected to find support at its 200-day moving average of 8,250.40 after two consecutive weekly falls.
Clarity on foreign investor taxation may also help sentiment.
KEY FACTORS/EVENTS TO WATCH
Sat: Earnings UltraTech Cement
Mon: Earnings Maruti Suzuki India, ICICI Bank
Tues: Idea Cellular, Bharti Airtel
Wedn: Sesa Sterlite, Housing Development Fin Corp
RBI to release fortnightly money supply data
Thurs: IDFC, Axis Bank
Fri: Markets closed for May Day
RBI to release its weekly statistical supplement at 5 p.m.