Markets at a glance

The markets rallied during the week due to favourable global cues with the Dow crossing the 9,000 mark for the first time in seven months, aided by the positive outlook. Back home, quarterly results and a revival of monsoon also pushed up the sentiment. Nifty surged nearly 200 points to 4,569 during last week consolidating the previous week’s gains. What added to cheer is an uptick in the industrial activity that grew at 6.5 per cent in June 2009, compared to a rise of 2.8 per cent in May. Inflation numbers continued in the negative territory at minus 1.17 per cent for the week ending on July 11.

Markets this week
Markets could witness volatility ahead of the July expiry week. However, global cues could sway market direction. The spurt in Monsoons augurs well and will improve sentiment. Nevertheless, corporate results season holds the key and analysts say that any disappointments in earnings could see share prices head south. Results of RIL and ICICI Bank could have a bearing on the market performance. Biggies such as Tata Motors, SBI, NTPC among others would announce June quarter results this week. The monetary policy review on July 28 would be keenly watched. Foreign investors, who bought $330 million at the net level during the week, will also play a key role.

 

Stock to watch
TATA MOTORS 

TATA MOTORS
Last week's close (Rs)	373.18
Prev. week's close (Rs)	315.9
Week's high (Rs)	377.15
Week's low (Rs)	308.95
Last week's ave. daily turnover (Rs cr)	205.82
Prev. week's ave. daily turnover (Rs cr)	132.61
Number of up/down move	3/2

India’s biggest truck maker, Tata Motors’ stock could see action on the eve of its June quarterly results on Monday. Vehicle volumes have declined by 10 per cent with M&HCV and UV segments bearing a brunt of this fall.

The LCV segment has been able to deliver positive y-o-y growth in volumes. Analysts expect revenues to decline by around 11 per cent y-o-y and net profits to fall by about 65 per cent.

After Maruti‘s better-than-expected first quarter results, any positive surprises on the results could further sustain interest in the counter.