Results in focus, trading seen cautious next week
REUTERS - Trading is expected to remain cautious next week as a sudden slump in share price of Tata Motors and Ultratech Cement in late market hours on Friday would make investors take cautious bets.
Shares are expected to trade in a narrow range as sentiment remains muted after the central bank's comments on Tuesday and as traders watch out for earnings of auto major Mahindra & Mahindra (MAHM.NS) and cement companies including ACC (ACC.NS).
Market participants will watch for any announcement from the government about the upcoming budget.
India's plan to raise about $2 billion through a stake sale in power producer NTPC Ltd (NTPC.NS) will likely take place on February 7, according to sources.
Events to watch:
Monday: Bank of Baroda (BOB.NS), United Sprits (UNSP.NS)
Tuesday: UCO Bank(UCBK.NS), Apollo Tyres(APLO.NS), HSBC Markit services PMI
Wednesday: Cipla(CIPL.NS), Tech Mahindra(TEML.NS)
Thursday: ACC(ACC.NS), Ambuja Cement(ABUJ.NS), MRF(MRF.NS), Aurobindo Pharma(ARBN.NS)
Friday: Cadila (CADI.NS), Hindalco(HALC.NS), Mahindra & Mahindra, Canara Bank(CNBK.NS), Sun Pharma(SUN.NS)
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Data released on Friday showing a slowdown in India's economy will put the Reserve Bank under renewed pressure to cut interest rates, while Prime Minister Narendra Modi takes his time over reforms needed for a revival. Full Article