The week ahead: Markets on a slippery road…

The tight run up to the US election and US investigation into Indian drug companies resulted in the markets recording the second highest weekly fall this year. The Sensex and the nifty ended 656 and 195 points lower to end the game at 27274 and 8434.

Going ahead, the second quarter results season is here and more stock specific action can be witnessed at the bourses. ICICI Bank, SBI, Bharat Heavy Electricals, Lupin, BPCL and Mahindra & Mahindra will be in focus this week as they announce the second quarterly numbers. More events are likely to unfold in the Tata – Mistry episode and this will impact Tata counters. In general, the volatility that we experienced last week is likely to continue this week too. Investors may watch out the dollar rates , oil prices , IIP numbers and FII flows to get an idea about the market mood.

For the week ahead we expect the markets to trade in a range of 26700-27000 for the Sensex and 8200-8450 for the nifty with negative bias.

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