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Stocks may turn choppy, Q2 earnings to decide trend

BSE-220x146Stock markets may see volatile sessions ahead of the derivatives expiry due on Thursday, and the next set of quarterly earnings from blue-chips such as Bharti Airtel, HDFC, Maruti Suzuki and ICICI Bank will dictate trend on bourses, say experts.

Stock-specific movement will continue due to the prevailing earnings season. Bharti Airtel, HDFC, Axis Bank, Lupin, Maruti Suzuki India, Vedanta and NTPC will bring out their earnings numbers this week.

“Apart from quarterly earnings, markets will remain volatile as traders will roll over positions in the derivative segment. Any new development from Bihar election will add volatility to the markets,” said Vijay Singhania, Founder- Director, Trade Smart Online.

Besides, investment trend by foreign investors, movement of the rupee against the dollar and crude oil price will also help set the tone, experts said.

“The October series F&O expiry will also contribute its bit to volatility. Furthermore, considerable stock-specific action will be witnessed as stock valuations align with the actual results delivered by companies for the September quarter in the ongoing earnings season,” said Hitesh Agarwal – Head Research – Reliance Securities.

Over the past week, the benchmark Sensex ended at 27,470.81, a gain of 256.21 points, or 0.94 per cent. Markets ended in the green for the fourth straight week.

“Market will wait for Bihar election results before any substantial move,” said Jimeet Modi, CEO, SAMCO Securities.

On the global front, China on Friday announced a further easing of its monetary policy to stimulate the world’s second- largest economy.

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