Mumbai: Market expected to stay firm

Mumbai, May 6: After wrapping the week with losses, a section of Stock market analysts expect the market to stay firm next week, as buying interest is expected to continue following robust set of results posted by India Inc.

The major fourth quaterly (Q4) results scheduled next week are Union Bank of India, Dabur India, Hero Honda Motors.

Tech Mahindra, Texmaco, Kotak Mahindra Bank, Aztecsoft, Blue Star, Lupin, S Kumars Nationwide, Asian Paints, Lanco Infratech and Zuari Industries among others will also declare their results in the coming week.

However, some experts are of the opinion that but for any other domestic triggers, the cue would come from how Asian markets open tomorrow.

''The action is expected to be stock-specific till the time any fresh trigger comes to play beyond the earnings season,'' they opined.

''Friday's session was a bit odd, since our market fell inspite of the fact that international markets were strong. This is a little disturbing as there is no reason for this to happen. This week, if the global markets turn weak, we may be in for more trouble,'' market pundits predicted.

Besides, although the Reserve Bank of India (RBI) has kept interest rates steady in its recent credit policy, a section of marketmen feel that the pause may just be a temporary measure, and further rate hikes are expected.

However, some analysts explain that since inflation is within managable limits now, chances for the Central Bank to adopt any further corrective measures are rather bleak in the short term at least.

Meanwhile, oil prices were steady at around USD 63 per barrel last week. Any sharp rise this week may affect sentiments, analysts added.

UNI