Q2 results, derivatives contract close crucial

Mumbai, Sept 24: The quarter two results for September and the derivatives conatract for September, which is coming to an end on Sept 23, will be decisive for the performance of the market next week as well as for the coming month.

Experts beileve, Q2 results from India Inc is going to be extremely strong and will boost the sensex further. However, if it fails to stand to the expectation a temporary correction is not ruled out.

The performance of FIIs and the domestic mutual funds who have been net sellers of Rs 1,296.5 crore and 15.76 crore in equities respectively, for the first four trading days, have also invested in excess of Rs 2500 crore, which makes it clear that their faith in the fundamentals of Indian economy is here to stay for a while.

Forex reserve stands at 165 crore and inflation is also under control. Given the falling crude oil price it is expected that inflation will be brought under full control soon.

Overall the next week is going to be volatile but under control.

UNI