Markets to be range-bound ahead of RBI policy; Q1 nos to impact
Quotes

Markets to be range-bound ahead of RBI policy; Q1 nos to impact

Last Updated: Sunday, July 21, 2013, 11:04
 
 Comment 0
 
Markets to be range-bound ahead of RBI policy; Q1 nos to impact
New Delhi: Stock markets are expected to remain range-bound in the near term and may see cautious trading ahead of RBI's monetary policy, even as investors closely watch first quarter corporate earnings and look at global cues, analysts said.

Besides, there may be volatility in view of settlement in the derivatives contracts this week, they said.

"Expect the markets to remain range-bound this week as investors will stay cautious ahead of RBI's monetary policy review on July 30. The corporate earnings season so far has not been disappointing and that may provide some support to the markets," said Vikas Jain, founder Aditya Trading Solutions.

The market on Monday is expected to react to the first quarter results of BSE Sensex major Reliance Industries that were declared on late Friday. It had posted 19 percent jump in net profit at Rs 5,352 crore on back of stronger margins in its core oil refining and petrochem businesses.

Inventure Growth and Securities Chairman and MD Nagji K Rita said however: "We believe that traders need to remain extremely cautious. It is the derivative expiry next week as well the market set-up is not very encouraging to build large positions. Sharp weakness in the banking sector has damaged the overall stocks sentiment."

L&T, Ambuja Cements, Cairn India, Hero MotoCorp, ITC, Maruti Suzuki (India), Sterlite Industries, Hindustan Unilever, Punjab National Bank, and Wipro are among the major firms slated to announce earnings this week.

"In the coming week, 5,990 shall be crucial deciding level for Nifty in near term, and the index is likely to witness further selling below this level," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio.

The BSE 30-stock index, Sensex, rose by 0.95 percent or 191.38 points to 20,149.85 last week.

PTI




First Published: Sunday, July 21, 2013, 11:04


Comments


comments powered by Disqus
BRICS Annual Summit 2014
BRICS Annual Summit 2014
Tata Zest Standout Features: In Pics
Tata Zest Standout Features: In Pics
New car launches in July
New car launches in July
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics
Google I/O 2014
Google I/O 2014

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved