Stock market is likely to turn volatile this week amid derivatives (F&O) expiry and not-up- to-the-mark quarterly results by Reliance Industries, even as it awaits quarterly results of various companies, including India's third largest IT exporter Wipro.
"Markets may turn volatile in the coming days amid F&O expiry (on Thursday). Traders and investors would also look forward to results to be announced by the Corporate Inc," IIFL Head of Research (India Private Clients) Amar Ambani said.
Wipro is likely to announce its quarterly results on April 27.
The Bombay Stock Exchange 30-share index Sensex rose by 1.11% to settle at 19,602.23 points last week on disappointing quarterly income posted by industry heavy weights Reliance Industries and Indian IT giant TCS.
Reliance Industries reported 14% rise in stand alone net profit at Rs 5,376 crore for quarter ended March 31, and Indian IT giant TCS post 31.1% net profit growth Rs 2,623 crore for the fourth quarter ended March 31.
However, the results failed to enthuse the Dalal Street's sentiments.
"With derivatives expiry this week, markets would continue to remain volatile and with many results to be announced, there will be stock specific movements with markets rewarding those who deliver good numbers and punishing the bad ones," said Motilal Oswal Securities Associate Director, Broking & Distribution Manish Shah said.
According to Ashika Stock Broking Research Head Paras Bothra, even as RIL's less-than-expected quarterly numbers may lead investors to go for profit-booking, the overall market momentum is likely to be positive, given the strong global market scenario.
