Markets likely to be choppy; F&O expiry this wk: Experts
The Indian stock market, which has been volatile on account of the recent Budget 2012-13 proposals and lack of strong global cues, is likely to remain range-bound this week ahead of corporate earnings and RBI policy meet in mid-April, say experts.business Updated: Mar 25, 2012 12:11 IST
The Indian stock market, which has been volatile on account of the recent Budget 2012-13 proposals and lack of strong global cues, is likely to remain range-bound this week ahead of corporate earnings and RBI policy meet in mid-April, say experts.
Besides, the settlement of this month's derivative contracts this week may add to volatility, they added.
"Markets have turned highly volatile with both global as well as domestic events influencing the trend. March derivative series expiry on Thursday is also likely to influence the market trend. Nifty is likely to be volatile within the range of 5,160-5,400," said Shanu Goel, research analyst at Bonanza Portfolio.
According to market analysts, the next big domestic trigger will be the Reserve Bank's policy review in April.
The BSE benchmark index Sensex ended the volatility marred week with a loss of over 100 points at 17,361.74 on Friday.
"I think the key triggers for the markets for the next week will be the fiscal year closing and the F&O expiry," an expert said.
Marketmen also said that next week being an expiry week, the markets would continue to see wild fluctuations.
They added that the rupee movement will be closely watched by the investors.
The rupee on Thursday plunged by 50 paise to close at sub-51 level after more than two months against the US dollar.
The foreign exchange markets were closed on Friday.
Globally, concerns about the slowdown in China have increased lately. Also, crude refuses to soften due to geopolitical tensions and was trading at $125 a barrel.
However, markets in the US ended with gains on Friday.