Market week ahead: Indian shares to trade range-bound; earnings eyed

Indian shares are likely to be range-bound, retreating from a string of record highs, with caution prevailing as blue chips continue to report their January-March earnings.
 
Disappointment over earnings at some blue chips such as Maruti Suzuki Ltd and ICICI Bank Ltd on Friday cast a shadow over upcoming results, putting in doubt some of the bets over an economic recovery.
 
Hindustan Unilever Ltd and Bharti Airtel Ltd will be reporting their quarterly earnings on Monday and Tuesday, respectively.
 
Foreign fund flows would be another key factor as overseas investors continued to buy Indian shares for the fourth straight session on Wednesday.
 
Investors would be cautious as markets hit record highs for the fourth straight session before closing 0.85 per cent lower on Friday.
 
Key events to watch
 
On Monday, Hindustan Unilever and Idea Cellular will be reporting their quarter earnings. 
 
Bharti Airtel earnings are due on Tuesday.
 
On Thursday, the markets will remain closed for a public holiday. 
 
The week will end with manufacturing PMI data on Friday.
 
Copyright @ Thomson Reuters 2013
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