CorporateUncertainty to prevail over D-Street: Analysts
Dalal Street is likely to remain on tenterhooks this week even as positive domestic triggers like second quarter earnings by companies may give some short impetus, analysts said.
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"Trading volume would be low this week. Good results will not have any major impact on the market, however, not so good figures might propel a fall," Unicon Financial Chief Executive G Nagpal said.
Trading would be truncated during the week as markets would remain closed on Tuesday on account of elections in Maharashtra.
Marketmen said that short bouts of positive activity may be witnessed this week as the companies come out with their quarterly earnings as expectations are high on better Q2 results after IT bellwether Infosys beat street expectations by posting a 7.5 per cent growth in net profit at Rs 1,540 crore.
"Markets might take a bounce back as good Q2 figures is likely to boost the heavyweight stock. However, markets are still in consolidation zone but as it has gone down quite a lot, a counter rally is expected," SMC Global Vice president Rajesh Jain said.
The BSE benchmark Sensex lost 500 points or nearly 3 per cent last week.