Markets Week Ahead: Sensex, Nifty Seen Rangebound Before Derivatives Expiry
The BSE Sensex and Nifty are likely to trade rangebound in the week starting July 28, hovering near record highs.
Caution is expected to prevail ahead of the expiry of monthly derivatives contracts on Thursday.
Individual stock movements will be watched given corporate earnings reports.
Among blue-chips posting earnings are Larsen & Toubro Ltd, Hindustan Unilever Ltd, and ICICI Bank.
Investors will also keenly watch the progress of monsoon.
Key events to watch
On Monday, L&T, Bank of Baroda and HLL are slated to report their quarterly earnings.
The markets will be closed for a public holiday on Tuesday, July 29. Bharti Airtel will be posting its earnings on the same day.
Bank of India will report its quarterly results the next day.
Expiry of monthly derivatives contracts is due on Thursday. Maruti Suzuki, India's largest carmaker, and ICICI Bank will be reporting their earnings. Tata Motors' shareholder meeting is also scheduled for the same day.
Also, infrastructure output data for the month of June and federal deficit data for Apr-June is also expected.
The week will end with the manufacturing PMI data of India and China, and a meeting of the Foreign Investment Promotion Board on Friday.
Copyright @ Thomson Reuters 2014
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