Markets May Continue To React To Results Next Week

Business

oi-Sunil

By Sunil Fernandes

Published: Saturday, October 17, 2015, 7:59 [IST]

Benchmark indices are largely expected to stay rangebound next week, while individual stocks may react to their results.

The Sensex and the Nifty closed the week marginally higher, with the Sensex showing gains of less then half per cent, during the week. The Nifty closed above the 8200 levels mark for the first time since Aug 21.

Like last week, metals and Tata Motors continued to be the best performing stocks. The week began with the results of Infosys, which reported numbers that beat estimates, but, the stock declined as guidance was poor.

Next in line was TCS, which declared a poor set of numbers. The stock reacted 4 per cent on the day of it results and did not recover much during the week. HUL also disappointed with its numbers.

Next week we have a host of earnings lined up including the likes of HDFC Bank, ACC and many companies from the midcap space.

Individuals stocks are likely to react to their results. There are not too many cues next week and it would be a truncated week, due to closure of the markets on Oct 22 for Dussehra.

Global cues are also expected to be quiet, with most markets digesting the earnings season. October has seen a good recovery in stocks, especially beaten down names like metal and individual stocks like Tata Motors.

Markets may consolidate and stay in a tight range and volatility maybe low, as the subsequent week will have bigger names declaring their results including ICICI Bank, ITC etc.

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