New Delhi: The ongoing quarterly income will be the main factor for advanced driving market trends and the benchmark index can face volatility this week in the midst of expired derivatives, analysts said.
The market will also track global equity for further direction, he added.
Santosh Meena, Head (Research) in Swastika Investmart, said, “If we talk about signals for this week, the next batch of income season and the end of October F & O (futures and options) ends can cause volatility in the market.” Meena added that the market would react to the revenue of the reliance industry and ICICI Bank on Monday.
Tech Mahindra, Ambuja Cement, Axis Bank, Mahindra Bank Box, Port Adani, L & T, Bajaj Auto, ITC, Maruti Suzuki, DLF, Indigo and Tata Power will come out with their income during the weak, said Meena.
Siddhartha Khemka, Head (Retail Retail) at Motoral Oswal Financial Services, said: “On Monday, investors will react to Reliance and ICICI Bank produces global cues.” ICICI Bank on Saturday reported the highest quarterly profit with an independent basis at RS 5,511 Crore for the September 2021 quarter, behind the growth of vertical-based loan, assisted by a bad loan decline.
Mukesh Mukesh Reliance Industries on Friday reported a 43 percent surge in the September quarter net profit, as its business from oil to retail was fired on all cylinders, grew sequentially and in years.
Yesha Shah, Head (Research Equity) at Samco Securities, said: “The market can struggle to hold this week’s footing and it will likely remain bound.
By ending monthly this week, market volatility can linger.” Last week, the BSE 30-Share benchmark decreased 484.33 points or 0.79 percent.
“In the next week, the domestic market will continue to track Q2 results for further direction.
Each, further inconsistencies, as seen in new quantities, can cause further decreases in the short term,” Vinod Nair, Head (Research) in Geojit Financial service, said.
Trade on the market will also be influenced by movement in rupees, Brent crude oil and foreign institution investors.