| Trigger for the Week | How will it impact? |
| COVID-19 spread in India could | India has witnessed over 60,000 cases and more than |
| delay lifting of lockdown | 2100 casualties and lockdown could go to end of May |
| Weak results of HDFC AMC shows | The weak flows in April and the HDFC AMC fall in profits |
| strain on mutual funds | could put pressure on AMC stocks in the coming week |
| Weak profit growth of ICICI Bank | Banks could take a hit on high COVID-19 provisions and |
| could be negative for banks | write-off by ICICI of Hin Leong exposure of $100 million |
| Absence of second stimulus | The correction this week could be attributed to absence |
| package disappointed markets | of stimulus. Recovery would predicate on fiscal boost |
| Huge spurt in borrowing target to | Borrowing surge to spike bond yields and increase |
| Rs.12 trillion negative for markets | borrowing costs; broadly negative for stocks this week |
| Nifty level of 9000 to remain crucial | The week will depend on the ability to protect 9000. Any |
| support zone | fall below 9000 with volumes will be negative |
| Negative GDP estimates for FY21 to | FY21 GDP estimates range from -2% by Goldman to -5% |
| be an overhang | by Nomura; essentially hinting at contraction in GDP |
| Moody’s warning on rating down- | The sharp spike in borrowing target and fiscal deficit |
| grade to be a key worry | crossing 5% could be the macro overhang this week |
| Big earnings triggers are expected | Numbers of Maruti, Kotak Bank, Reddy Labs, Cipla, |
| during the week | Biocon could give hints on pharma outlook |
| Markets will prefer unified voice on | Trump at cross-purposes with the trade negotiation |
| the future of US-China trade deal | team is actually making the markets nervous |
| Key macro data points expected this | CPI and IIP data on 12 May will give an indication of the |
| week | lockdown impact and future growth / liquidity trajectory |
| Trade data on 15 May to give hints | Exports have taken a big hit and this data point will be |
| on India export outlook | critical to gauge the full impact of the lockdown |
| Oil and rupee could be the key high | Brent has held above $30/bbl, which is positive and INR |
| frequency data to watch | has stabilized in 75-76/$ range; which is a positive |
| Global data points could hold a | Markets will closely track, US jobless claims, US inflation, |
| mirror to the market moves | retail sales, industrial output across Europe and China |
