Quarterly earnings, coronavirus case trends, Fed rate decision to drive equities: Analysts
FirstpostThe US Fed’s two-day meeting begins on 28 April and interest rate decision will be announced on 29 April 2020. New Delhi: Quarterly earnings, trend in coronavirus cases, and the US Fed’s interest rate decision will be the major drivers for markets in the holiday-shortened week ahead, analysts said. Participants would also keep an eye on retail investor sentiment in the aftermath of Franklin Templeton Mutual Fund shutting six debt schemes, they added. Deepak Jasani, Head of Research, HDFC Securities, said: “The US Federal Reserve’’s two-day meeting begins on 28 April and interest rate decision will be announced on 29 April 2020. The latest Franklin Templeton Mutual Fund issue has created fresh worries on stress in the economy - especially in the financial sector.” Franklin Templeton Mutual Fund late on Thursday announced winding up of six debt schemes, with assets under management of over Rs 25,000 crore, due to redemption pressures and lack of liquidity in bond markets amid the COVID-19 crisis.