US non-farm payroll jobs data for the month of April, showing signs of a pick-up in American economy, would decide initial trend of Indian stocks for the week starting May 11.
Domestic inflation data for last month will be key for the markets thereafter. Updates on India's new panel to sort out retrospective tax issues would also be on radar.
US job growth rebounded in April and the unemployment rate dropped to a near seven-year low of 5.4 per cent - signs of a pick-up in economic momentum that could keep the Federal Reserve on track to hike interest rates this year.
During the week, Indian shares are likely to continue their bounce from near 6-1/2 month closing lows. The Nifty is expected to trade between 8,000 and 8,400
Pharmaceutical stocks will be watched ahead of key earnings including Dr Reddy's Laboratories and Lupin.
Benchmark government bonds may trade in a 7.90-8.10 per cent range.
The rupee, during the week, is expected to trade in a 63.40-64.45 range
Key events to watch
On Monday, Bank of Baroda is due to post its quarterly earnings. Trade data for the month of April is also expected on the same day.
On Tuesday, pharmaceuticals company Dr Reddy's Laboratories will be posting its quarterly results.
Data on Consumer Price Index for April and industrial/manufacturing output for the month of March are also slated for Tuesday.
Lupin will be posting its earnings the next day. Money supply data will also be released on Wednesday.
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