"The BSE-30 Index gained ~ 0.4% over the past week on robust 4QFY18 corporate earnings. However, the economy is seeing risks from rising crude prices, as the United States announced its withdrawal from the JCPOA deal and imposed sanctions on Iran. ICICI Bank (+9%), ONGC (+4%) and Adani Ports (+3%) were the top gainers in the BSE-30 Index, while Sun Pharma (-7%), Dr Reddy's Laboratories (-6%) and Bajaj Auto (-5%) were the major losers. FPIs sold equities worth US$388 mn over the past five trading sessions, while DIIs bought US$466 mn during the same period.
Going into the next week, the focus would be the Karnataka Elections which could result in some volatility. There is also macro data to be announced on IIP and CPI, which may move markets. Focus would also be on crude prices as Iran Nuclear deal is now off the table. Given the deterioration in macro data points, investors would do well to stay invested in companies that are delivering healthy earnings growth".