The market will be watching for the next round of quarterly reports in the near future. Due to Id-Ul-Fitr, stock markets will be closed on Tuesday, May 3, 2022. 

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In the short term, the trend in global stock markets, the movement of the rupee against the dollar, and crude oil prices will drive the trend on the bourses. Foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) would be monitored in their investments. The current Russia-Ukraine situation is expected to keep volatility high. 

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Britannia Industries and HDFC, among others, will release their quarterly results on May 2, 2022. On 3 May 2022, Adani Enterprises, Godrej Properties, Hero MotoCorp, Tata Steel, and Titan Company will release their quarterly results.

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On 4 May 2022, Adani Green Energy, Adani Total Gas, Kotak Mahindra Bank, and Oracle Financial Services Software will release their quarterly results.

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On May 6, 2022, Tata Power Company will release its quarterly results. Auto stocks will be watched when automakers begin publishing monthly sales figures for April beginning on May 1, 2022.

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On the macroeconomic front, the S&P Global Manufacturing PMI for April will be released on May 2, 2022. The April S&P Global Composite PMI and S&P Global Services PMI will be released on May 5, 2022.

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China will release the NBS Manufacturing PMI on April 30, 2022. The Caixin Manufacturing PMI for April will be released on the same day.

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On May 4, 2022, the United States will release the ISM Non-Manufacturing PMI for April. The April Non-Farm Payrolls statistics for the United States will be released on May 6, 2022. On the same day, the US Unemployment Rate for April will be released.

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Globally, all eyes would be on the interest rate decision by the US Federal Reserve. Most experts expect the US Fed to hike the rate by 50 bps in its policy meeting to be held during May 3-4, which the markets seem to have already discounted, hence the commentary about the future course of action including rate hikes will be keenly eyed and as a result of which the movement of US dollar index and 10-year treasury yield will be watched.