Earnings to remain key for markets next week

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 Earnings to remain key for markets next week
Markets might continue to trade in a range next week, with select stocks likely to react to their results. This week the Sensex gained 2.5 per cent, as some buying support from foreign funds was seen on Thursday and Friday. A super set of results from Tata Consultancy Services also helped boost sentiments.

What also helped sentiments this week were the drop in the WPI inflation to a four-month low. Banks and infrastructure companies continue to find buyers with the Bank Nifty among the top sectoral index performers this week. ICICI Bank had a remarkable week with the stock surging almost 10 per cent through the week on heavy buying support.

Select stocks like Hindustan Unilever and Bajaj Auto were the laggards. Global sentiments were not very encouraging during the week, though on Friday the Dow Jones ended higher.

Going ahead several top banks and institutions will announce their first quarter results next week. Most of the results are expected to be in line or better than estimates.

Apart from that there are no major cues, including international cues. The development of the rains could also be watched as rains have now lashed across the entire country.

All in all expect some stability in the market in the next week going forward.


Read more about: sensex, wpi inflation
Story first published: Saturday, July 19, 2014, 12:07 [IST]
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