Stock Market Live Updates 29 April 2024: Quarterly earnings and US Fed decision to drive Indian equity markets this week

Updated – April 29, 2024 at 06:51 AM.

Sensex, Nifty, Share Prices LIVE: Analysts anticipate that quarterly earnings reports from corporates, alongside the US Fed’s interest rate decision and other global trends, will drive the domestic equity market’s movement in the upcoming holiday-shortened week. Factors like foreign investors’ trading activity, Brent crude oil prices, and the rupee-dollar trend will also play a crucial role. The domestic market will be closed on Wednesday for Maharashtra Day. Santosh Meena, from Swastika Investmart Ltd, highlighted that Q4 earnings reports would impact stock-specific movements domestically. Vinod Nair, Head of Research at Geojit Financial Services, emphasized the influence of the upcoming US Fed policy and US non-farm payroll data on global markets. Last week, the BSE benchmark rose by 0.87%, and the NSE Nifty climbed by 1.23%. Foreign investors withdrew Rs 6,300 crore from domestic equities in April, primarily due to concerns over changes in India’s tax treaty with Mauritius and rising US bond yields. However, domestic institutional investors, HNIs, and retail investors have been absorbing this selling pressure.

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