Market expected to stay firm

The market may stay firm, as buying interest is expected to continue following robust set of results posted by India Inc.

The major Q4 results scheduled next week are Union Bank of India, Dabur India, Hero Honda Motors.

Tech Mahindra, Texmaco, Kotak Mahindra Bank, Aztecsoft, Blue Star, Lupin, S Kumars Nationwide, Asian Paints, Lanco Infratech and Zuari Industries among others will also declare their results in the coming week.

Although the Reserve Bank of India (RBI) has kept rates steady in its recent credit policy, market men feel that the pause may just be a temporary measure, and further rate hikes are expected to curb inflation.

Also a lot will depend on how the global markets pan out. Over a past few months, local bourses have been tracking global cues in the similar direction. Any sharp correction will lead to a fall here as well.

Oil prices were steady at around $63 per barrel on Friday (4 May). Any sharp rise may affect the sentiment.