Indian markets are expected to open flat with positive bias as SGX Nifty is currently ruling at 15,195 as against Nifty futures close of 15,185.
Analysts expect markets to stay on sidelines, as there are no triggers with result season almost coming to an end.
Ruchit Jain (Senior Analyst – Technical and Derivatives, Angel Broking), said: “Unlike last week, it has been a week of consolidation so far for the indices as Nifty, as well as Bank Nifty, have traded with a narrow range. There are no signs of reversal of the trend. and hence, this seems to be a time-wise correction, which was much-required post the sharp run-up in the budget week. As of now, there are no signs of any deeper retracements, and hence, once this consolidation is over, we expect the markets to resume its uptrend.”
Stocks to watch
Aviation stocks SpiceJet and InterGlobe Aviation may remain in focus, as the DGCA raised minimum and maximum fare by 10-30 per cent on domestic flights effective immediately.
Sun Pharmaceutical: The company and its.promoter Dilip Singhvi settled long-pending related-party dealings with SEBI through consent mechanism.
Result calendar. As mandatory last day nears for quarterly result announcement, nearly 1000 companies are declaring their results. Among them include, Advanced Enzyme Technologies, Anant Raj, Apollo Micro Systems, Apollo Hospitals Enterprise, Bharat Dynamics, Bharat Forge, Cochin Shipyard, Dilip Buildcon, Delta Corp, Embassy Office Parks REIT, Force Motors, GE T&D India, GIC Housing Finance, GMR Infrastructure, Glenmark Pharma, Godrej Industries, Grasim, Hindustan Aeronautics, Indiabulls Housing Finance, Inox Wind, ITI, Lux Industries, Mazagon Dock Shipbuilders, Mishra Dhatu Nigam, MOIL, Motherson Sumi Systems, Nagarjuna Fertilizers, NALCO, New India Assurance Company, PC Jeweller, PTC India, Siemens, Sobha, Sterling and Wilson Solar, Voltas and Zuari Agro Chemicals.