Market to scale fresh peaks

The market is expected to scale fresh peaks on buying momentum in the week beginning 16 July 2007.

Strong global markets, fresh buying at higher levels, healthy inflow from foreign funds and domestic mutual funds, easing fears of interest rate hike, anticipation of robust set of Q1 June 2007 results were some of the factors that led a solid rally on the bourses in the week ended 13 July 2007.

The BSE 30-share Sensex jumped 308.60 points in the week ended 13 July 2007 to settle at a record closing high of 15,272.72. It also struck an all-time high of 15,330.73 in intra-day trade.

However, profit booking cannot be ruled out at higher levels. Also any spike in crude oil prices from the current levels may put brakes on rally. As per latest data, Brent crude was hovering at the $77 a barrel mark

Mahanagar Telephone Nigam, Zee Entertainment Enterprises, Reliance Energy, DLF Larsen & Toubro, Ambuja Cement and Ultratech Cement Company will announce their Q1 June 2007 in the coming week.

Besides, the following companies from small and mid-cap space, too will announce their Q1 June 2007 results in the coming week: Garware Offshore Services, Sesa Goa, Dish TV India, Blue Dart Express, 3M India, Sonata Software, Tata Coffee, 3M India, Shanthi Gears, Zensar Technologies, Dolphin Offshore Enterprises (India), Aventis Pharma, Jubilant Organosys, Alembic, Industrial Development Bank of India, Tanla Solutions, Plethico Pharmaceuticals and Ashok Leyland