F&O expiry may cause volatility

A surge in global risk appetite may help Indian stocks extend recent rally. Volatility may remain high in the near term as traders rollover positions in the futures & options (F&O) segment ahead of the expiry of the near-month April 2011 contracts on Thursday, 28 April 2011. Shares of India's biggest private sector firm in terms of market capitalization Reliance Industries (RIL) will react to the company's Q4 results when trading resumes on Monday, 25 April 2011. The results were due after trading hours on Thursday, 21 April 2011. The stock market remains closed on Friday, 22 April 2011 on account of Good Friday.



Stock-specific activity may dominate trade in the near term amid expectations of Q4 March 2011 results and based on actual result announcements of individual firms. Axis Bank announces Q4 results on Friday, 22 April 2011, when the stock market remains closed for a public holiday.

On Monday, 25 April 2011, Sesa Goa, Maruti Suzuki and Sterlite Industries are due to report Q4 results. On Tuesday, 26 April 2011, ACC, Ambuja Cements and UltraTech Cement will unveil quarterly earnings, to be followed by Wipro, Dabur India and Exide Industries on Wednesday, 27 April, 2011. On Thursday, 28 April 2011, Bank of Baroda, Crompton Greaves, JSW Energy, LIC Housing Finance and, Biocon are due to report earnings. On Friday, 29 April 2011, Infrastructure Development Finance Company, Titan Industries, TVS Motor, Rallis India, United Spirits, Steel Authority of India and United Phosphorus are due to reports earnings.

The initial public offering (IPO) of the Kishor Biyani-promoted Future Ventures India opens for bidding on Monday, 25 April 2011. The company plans to raise up to Rs 750 crore through the IPO by offering shares in the price band of Rs 10 to Rs 11 per share. The issue closes on 27 April 2011 for qualified institutional bidders and 28 April 2011 for retail and non-institutional bidders