What in your opinion are the major weekly cues for the market for the trading week starting on 02-May 2022?

Here are some of the major trading cues for the forthcoming week.

· Nifty closed the previous week with losses of -1% while the mid-cap and small-cap indices corrected by -1.6% and -2.7% respectively. Large-cap pressure is likely to continue from IT stocks while liquidity for LIC IPO will be the key to mid-caps.

· Markets are likely to react positively to the double digital month-on-month growth in core sector growth, rather than yoy growth of 4.3%. Crude is likely to remain steady, caught between Russian supply worries and China slowdown concerns.

· Major large-cap results this week include Adani Wilmar, Britannia, HDFC, Hero Moto, Tata Steel, Titan, Adani Green, and Adani Total. Some of the mid-cap results to watch are Devyani, Inox, KEC, GPL, Havells, SIS, ABB, Blue Dart, CAMS, Marico, and Canara Bank.

· All eyes will be on the opening of the LIC IPO on 04th May. Apart from the retail and policyholder response, another factor that will be closely watched and monitored is the subscription in LIC anchor placement on 02-May with major sovereign funds chipping in.

· The all-important FOMC decision will be out on 04th May night. While markets have factored in a 50 bps rate hike, the focus will be on the language and guidance of the Fed plus how serious is the Fed about its $95 billion monthly unwinding of the bond book.

· FPI selling persisted in April 2022 with over Rs.17,700 crore in equities and over Rs.22,600 crore overall, including debt and hybrids. This comes on top of the Rs.1.48 trillion sold in the last six months of fiscal year FY22. VIX spiked to 19.42 levels.

· In global cues; big focus on US FOMC meet, PMI, Factory orders, JOLTS, API weekly crude oil inventories, Trade, jobless claims. The ROW focus is on UK BOE meet, Inflation; EU Unemployment, PMI, Retail Sales; Japan core CPI; China Caixin PMI.