Stock-specific activity may dominate trade amid Q2 results

Stock-specific activity may dominate trade in the near-term with the earnings season as its peak. Investors will closely watch the management commentary at the time of announcement of Q2 September 2011 results, which will provide cues on futures earnings outlook.

The week ahead is a truncated one as the stock market remains closed on Monday, 7 November 2011 on account of Bakri-Id and again on Thursday, 10 November 2011 on account of Gurunanak Jayanti.



Global markets will on Monday, 7 November 2011, react to the influential US non-farms payroll data. The report due on Friday, 4 November 2011, is expected to show non-farm payrolls rose by just 90,000 in October, after a rise of 103,000 in September. The unemployment rate is expected to remain at 9.1%.

Infrastructure Development Finance Company (IDFC), ABB, Bank of India, Reliance Infrastructure and Reliance Power unveil quarterly results on Tuesday, 8 November 2011. State Bank of India, Ranbaxy Laboratories, Indian Oil Corporation, GMR Infrastructure, Power Finance Corporation and Bhushan Steel unveil quarterly results on Wednesday, 9 November 2011. DLF, Tata Steel, Hindalco Industries, Pantaloon Retail (India), Mahindra Satyam and CEAT unveil quarterly results on Thursday, 10 November 2011. Jet Airways (India), Reliance Capital, GE Shipping, Housing Development & Infrastructure and Tata Chemicals unveil Q2 results on Friday, 11 November 2011. Coal India, National Aluminium Company and Shipping Corporation of India report Q2 results on Saturday, 12 November 2011.

State Bank of India on Friday, 4 November 2011, said its customer services may be disrupted on Nov. 8 and Nov. 9 due to a countrywide strike planned by an employees' union. The All India State Bank Officers Federation has served notice that its members plan to strike work for two days "in pursuance of certain demands," the bank said in an advertisement issued in a business daily. It didn't specify the union's demands, but said that it is making "conciliatory efforts" to avert the strike. The has bank advised customers to complete transactions before Nov. 8, pointing out also that Nov. 7 and Nov. 10 are public holidays in some states.