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Bank stocks are likely to move sideways and activity will be stock-specific as some lenders will announce results for Jan-Mar next week. The underlying momentum is positive, tracking strength in the broad market.
Over the past two weeks, markets are consolidating on the gains made over the past two-three months. Markets are expected to consolidate around the current levels till the outcome of the elections. However, one cannot rule out volatility in the markets after this sharp rise.
Andhra Bank, Federal Bank Ltd, Indian Overseas Bank, ING Vysya Bank Ltd, IDBI Bank Ltd, Kotak Mahindra Bank Ltd, and Oriental Bank of Commerce Ltd, among others, will detail their earnings next week.
Market participants will also eye the outcome of the US Federal Open Market Committee's two-day meeting, which will conclude on Wednesday. The meet is widely expected to decide on further tapering of the stimulus programme.
Post the FOMC decision, movement in the currency market and the government bond market will be closely tracked. The impact of the US FOMC decision will be felt only on Friday, as local markets are shut Thursday for Labour Day.
Bank stocks are likely to move sideways and activity will be stock-specific as some lenders will announce results for Jan-Mar next week. The underlying momentum is positive, tracking strength in the broad market.
Over the past two weeks, markets are consolidating on the gains made over the past two-three months. Markets are expected to consolidate around the current levels till the outcome of the elections. However, one cannot rule out volatility in the markets after this sharp rise.
Andhra Bank, Federal Bank Ltd, Indian Overseas Bank, ING Vysya Bank Ltd, IDBI Bank Ltd, Kotak Mahindra Bank Ltd, and Oriental Bank of Commerce Ltd, among others, will detail their earnings next week.
Market participants will also eye the outcome of the US Federal Open Market Committee's two-day meeting, which will conclude on Wednesday. The meet is widely expected to decide on further tapering of the stimulus programme.
Post the FOMC decision, movement in the currency market and the government bond market will be closely tracked. The impact of the US FOMC decision will be felt only on Friday, as local markets are shut Thursday for Labour Day.
