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Markets to remain volatile

Monday, April 24, 2017
By Dominic Rebello

The stock markets, which closed in the red for three of the five days have registered its second consecutive weekly fall on account of selling pressure due to geo-political pressure, poor Q4 results and market participants preferring to sit on the sidelines taking a cautionary stand ahead of the elections in France.

"The first thing the markets will have to negotiate on Monday is the outcome of the French election," said V K Sharma, Head - Private Client Group, HDFC securities.

"Ahead of derivative expiry session, geo-political developments and key earning season markets in the coming week are expected to volatile. In the coming week, the focus will be on France, where voters are heading to the polls Sunday to choose their next president. France is the second-largest economy in the euro-zone and one of the seven biggest across the world,” said Vijay Singhania, Founder-Director, Trade Smart Online.

The market will remain volatile as traders roll over positions in the futures & options (F&O) segment from the near month April 2017 series to May 2017 series. The near month April 2017 derivatives contract expire on Thursday, 27 April 2017, Singhania added.

Among major blue-chip companies results due this week are RIL, Ultratech Cement, Axis Bank, Wipro, Kotak Mahindra Bank, Indiabulls Housing Finance and Maruti Suzuki India.

“Markets can see an increase in volatility on account of the expiry and declaration of results by a bunch of Companies,” said Jimeet Modi, CEO, SAMCO Securities.

Last week, the BSE Sensex lost 96.15 points, or 0.32%, while the Nifty declined by 31.40 points, or 0.34%.

"The quarter results till date has painted a mixed picture while concern over upcoming French election is adding risk to the market. A hawkish tone of RBI in its latest minutes has also added pressure on the downside," said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

"Geopolitical tension and a tepid start to domestic earnings season have turned domestic investors cautious. On global front, French election and ECB policy meet could bring some volatility in global markets.

Investors will watch for more cues from the upcoming results of major index heavyweights which will determine the market direction and thereby the impact on foreign inflows," Nair added.

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