Sunday, 22 April 2012

Market likely to be choppy with upward bias: Experts

Trading in stock markets is expected to be volatile this week as investors are likely to take cues from corporate earnings, analysts said.
The future & options derivative contracts expiry on Thursday will also keep markets choppy, they added.
Country's most valued company RIL had already posted 21% dip in fourth quarter earnings which was reported after the close of trading hours on Friday.
"RIL results for the fourth quarter have been in line of the estimates. While most of the parameters have been in line of the estimates, there is definite positive surprise on the GRM (Gross Refining Margins). That's definitely positive during this quarter," Jagannadham Thunuguntla Strategist & Head of Research SMC Global said.
"...Once the earnings season gets over market may find some direction. Besides, RIL's stock will not be affected much on Monday as the results were on the expected line," Ashika Stock Brokers Research Head Paras Bothra said.
Among the blue-chips, TCS, Wipro, Maruti Suzuki and ICICI Bank will announce their quarterly results this week.
"The outlook for the equity markets looks positive. RIL should bounce back after initial knee-jerk reaction in its stock on Monday," CNI Research CMD Kishore Ostwal said.
According to Bonanza Portfolio Research Analyst Shanu Goel, "Apart from the domestic events, global cues too will continue to influence the market trend...."
The BSE benchmark Sensex recorded a weekly gain of 1.63% after the Reserve Bank of India (RBI) cut repo rate by a sharper-than-expected 50 basis points in its annual monetary policy for 2012-13 on Tuesday.

Published on Sun, Apr 22, 2012 at 12:36 |  Source : PTI
Updated at Sun, Apr 22, 2012 at 20:25 

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