Market may remain volatile ahead of F&O expiry and Q4 GDP data

The market may remain volatile as traders roll over positions from the near-month May 2012 series to June 2012 series. The May 2012 derivatives contracts expire on Thursday, 31 May 2012 The government will announce Q4 March 2012 gross domestic product (GDP) data on Friday, 31 May 2012. The Indian economy expanded 6.1% in the October-December quarter from a year earlier, the weakest pace of expansion in more than two years, hurt by slower growth in manufacturing output and a contraction in mining production. Automobile and cement shares will be in focus as companies from these two sectors will start unveiling monthly sales volume data for May 2012 from Friday, 1 June 2012. HSBC's monthly purchasing managers' index (PMI), which indicates the health of the manufacturing sector, is likely to be released next week. The HSBC India PMI, compiled by Markit, rose to 54.9 in April from 54.7 in March. The Q4 March 2012 earnings season is drawing towards a close. Investor focus is on the guidance provided by the management for the year ending March 2013 (FY 2013) to gauge the earnings outlook. Coal India announces FY 2012 consolidated results on Monday, 28 May 2012. Tata Motors, ONGC, Steel Authority of India and Power Grid Corporation of India announce FY 2012 results on Tuesday, 29 May 2012. Sun Pharmaceuticals Industries announces Q4 results on the same day. GAIL (India) and DLF unveil Q4 results on Wednesday, 30 May 2012. Mahindra & Mahindra (M&M) and Jaiprakash Associates unveil FY 2012 results on the same day.