Markets are likely to remain volatile ahead of the expiry of July derivative contracts even as the first quarter earnings and the progress on the GST Bill would continue to remain in focus.
In the week to July 22, the S&P BSE Sensex ended down 34 points at 27,803 while the Nifty50ended unchanged at 8,541. In the broader markets, the BSE Midcap and Smallcap indices rose over 1% each.
The major headlines during the week was the capital infusion into state-owned banks by the government. The government allocated Rs 22,915 crore to recapitalise 13 public sector banks (PSBs), including the biggest lender State Bank of India (SBI). The sum, which is 92% of the budgeted provision of Rs 25,000 crore, is aimed at supporting lending operations of these banks and helping them mop up money from markets.
Outlook
Volatility in the markets is likely ahead of the expiry of July F&O contracts.
Among the major corporates that are likely to announce their first quarter earnings include,Maruti Suzuki India, Zee Entertainment Enterprises, Bharti Infratel and Dr Reddy’s Laboratories, ACC, Ambuja Cements, Bharti Airtel, HDFC, Asian Paints, Yes Bank and Bajaj Auto, ICICI Bank and Larsen & Toubro.
Further, the progress of the GST Bill in the parliament is likely to remain in focus.
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