'Stocks may be volatile amid Q1 results'

'Stocks may be volatile amid Q1 results'

The sentiment may also be impacted by the imminent Cabinet reshuffle and the factory output numbers, they said.

“The world market cues are not encouraging at the moment. The US job data was below expectation. I foresee a range-bound market this week which can see volatility moving up,” said Geojit BNP Paribas Financial Services Research Head Alex Mathews.

“IT major Infosys in most probability will deliver smart numbers this time which can give support to the market,” Mathews added. The IT bellwether, with the second heaviest weight on the BSE 30-stock benchmark Sensex after Reliance Industries, will announce results on July 12.

During the last week, the BSE 30-stock key index Sensex gained over 95 points to end the week at 18,858.04, led by good buying in realty, consumer durables and auto counters.

“The market at present is in a profit-booking mood. Some weakness is expected this week ahead of a likely Cabinet reshuffle. Besides, Infosys earnings will set the tone for the market,” CNI Research CMD Kishore P Ostwal said.

Meanwhile, the US economy added just 18,000 new jobs in June, much lower than expected, while unemployment rate rose to 9.2 per cent. It come as a dampener for hopes of strong labour market recovery. Besides, the metals and mining stocks have been on a losing streak.

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