'Market may remain volatile in truncated week amid cos results'

Last Updated: Sunday, April 21, 2013 - 11:07

New Delhi: Trading in the stock markets are likely to be volatile in a holiday-shortened week amid derivative contract expiry and the ongoing earnings season, experts have said.

Stock markets will remain shut on Wednesday on account of 'Mahavir Jayanti'.

Besides, corporate earnings will continue to be in focus this week with several blue-chip companies, including HDFC Bank, Jindal Steel & Power, Hero MotoCorp, ICICI Bank and Maruti Suzuki India, scheduled to announce their results.

Investors will also closely track movement in gold and oil prices.

A fall in gold and global oil prices has boosted the market sentiment as it eased worries of high current account deficit (CAD) and fiscal deficit, the two key challenges being faced by India.

The next big trigger for the market is the RBI monetary policy review on May 3, experts said.

"The week could open into a surprise considering the movement in international equity markets as well as the movement in gold and crude oil over Thursday and Friday.

"Traders need to remain nimble footed this week as one could see profit-booking setting in," said Inventure Growth and Securities CMD Nagji K Rita.

The second half of the Budget session of Parliament begins on Monday.

PTI

First Published: Sunday, April 21, 2013 - 11:07

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