Results, French polls to dictate market trend this week

NEW DELHI, Apr 23:  Quarterly earnings of blue-chips RIL and Wipro, trends emerging from global indices and election in France would largely dictate stock market sentiment this week, say experts.
The markets may also see bouts of volatility amid derivatives expiry, they added.
“The first thing the markets will have to negotiate on Monday is the outcome of the French election,” said V K Sharma, Head – Private Client Group, HDFC securities.
“Any development on the geopolitical front between the US and North Korea can weigh its impact on global markets, including Indian markets. The ongoing earning season will play key role in deciding the market trend ahead,” said Vijay Singhania, Founder-Director, Trade Smart Online.
Among major earnings due this week are RIL, Ultratech Cement, Axis Bank, Wipro, Kotak Mahindra Bank and Maruti Suzuki India.
“Geopolitical tension and a tepid start to domestic earnings season have turned domestic investors cautious. On global front, French election and ECB policy meet could bring some volatility in global markets. Investors will watch for more cues from the upcoming results of major index heavyweights which will determine the market direction and thereby the impact on foreign inflows,” said Vinod Nair, Head of Research, Geojit Financial Services.
Over the past week, the BSE Sensex fell 96.15 points, or 0.32 per cent, and the Nifty 31.40 points, or 0.34 per cent, sliding for the second straight week. (PTI)


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