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Q4 earnings, F&O expiry, French elections to keep markets on edge this week

LiveMint logoLiveMint 24-04-2017 Nasrin Sultana

Mumbai: The market is expected to be volatile as traders will roll over positions in the futures and options (F&O) segment owing to April series expiry, while March quarter earnings will be in focus. Global investors are likely to be on the edge due to uncertainty around French elections.

“Ahead of derivative expiry session, geopolitical developments and key earning season, markets in the coming week are expected to be volatile. Any development on the geopolitical front between the US and North Korea can weigh on global markets, including Indian markets. Fund managers will use Q3FY17 results to rebalance or reshuffle the portfolio based on management commentary and earnings,” said Vijay Singhania, founder-director of brokerage firm Trade Smart Online.

Some of the major corporate earnings lined up this week are Reliance Industries Ltd (RIL), Axis Bank, Wipro, Kotak Mahindra Bank, Maruti Suzuki, Indiabulls Housing Finance, Ultratech Cement, Ambuja Cements and IDFC.

According to a Mint report, RIL is expected to post firm Q4 earnings due to higher margins in its petrochemical and refining businesses. According to a Bloomberg poll of 16 analysts, RIL is seen reporting stand-alone net profit at Rs8,015.70 crore on revenue of Rs67,467.10 crore in the March quarter.

In the primary markets, text book publisher S Chand’s initial public offering (IPO) will open for subscription on 26 April and close on 28 April. With a price band of Rs660-670 per share, it comprises fresh issuance of shares worth Rs325 crore and an offer for sale of 6,023,236 scrips by the existing shareholders. At the upper end of the price band, the issue is expected to fetch Rs728.55 crore.

On the global markets front, France went to the polls on Sunday to choose its next president and the result will be a deciding factor for the Euro zone. France has a two-round voting system where a leader can be elected if he wins an outright majority in the first round, but the polls suggest that this is unlikely, and a run-off between the two leading candidates is scheduled for 7 May.

Also, the European Central Bank (ECB) will announce monetary its policy decision on Thursday.

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