Trade is expected to remain choppy next week in the run-up
to expiry of the May futures contract on Thursday. With the earnings season
nearing an end, the markets will await signs of monsoons and developments in
the global markets. We continue to recommend a bottoms-up approach and would
recommend investors to accumulate stocks having reasonable valuations, strong
balance sheet and ethical management across sectors. The National Stock
Exchange's 50-share Nifty ended at 5983.55, 16.50 points or 0.3% higher from
Thursday. The S&P BSE Sensex closed at 19704.33, 30.00 points or 0.1%
higher. MCX Stock Exchange's SX40 ended marginally down at 11681.13, 1.17
points lower.
Apart from the overseas markets, investors will also eye India 's gross
domestic product growth estimate for Jan-Mar, which is due on Friday. Quarterly
earnings from several companies will also be keenly watched. Jet Airways India
is likely to slide as, post market hours yesterday, it posted a massive net
loss of 4.95 bln rupees. Jan-Mar earnings from Bharat Forge, Oil India , and
Gujarat NRE Coke will be eyed over the weekend.
Next week, numbers are due from Coal India, Bharat Petroleum Corp, National Aluminium Co, Tata Chemicals, Aban Offshore, Dishman Pharmaceuticals and Chemicals, GAIL India, Sun Pharmaceutical Industries, Tata Global Beverages, BGR Energy Systems, Cipla, MphasiS, NMDC, Oil and Natural Gas Corp, Tata Motors, Aurobindo Pharma, DLF, IVRCL, Mahindra & Mahindra, Steel Authority of India, Suzlon Energy and Tata Power Co.
Wockhardt will also be under the spotlight as it reports its
result. We expect downside in the stock is limited after it posted double-digit
losses in the past two sessions due to the US Food and Drug Administration's
import alert on its Aurangabad
unit.
