The market is expected to stay sideways amid high volatility, ahead of Infosys results on 11 January 2007.
While strong Q3 results are expected from India Inc, they have already been factored into share prices. Market players will closely watch what the company managements have to say about the outlook for Q4 March 2007 and FY 2008 (year ending 31 March 2008).
After Q3 results, the Union Budget for the year 2007-08 will be avid watched. A build up of long positions is likely on expectations of favourable policy announcements in the budget, according to dealers.
Also the recent decline in global crude oil prices augurs well for the market. Oil for February delivery was hovering around $55.45 per barrel.
Infosys Technologies, Mastek, HDFC Bank, KLG Systel, Eastern Silk Industries, Rama Newsprint and Papers, Atlanta, BASF India, Sintex Industries, iGate Global Solutions, The Tinplate Company of India, Hindustan Zinc, Ucal Fuel Systems, Great Offshore, Jaiprakash Associates will announce their December quarter results in the forthcoming week.