SENSEX NIFTY
May 18, 2013, 12.37 PM IST | Source: Reuters

Sensex risks consolidation; SBI, CIL results key next week

Earnings of Coal India, SBI, Jet Airways will be key for the week ahead for our market.

Sensex risks consolidation; SBI, CIL results key next week

The BSE Sensex risks of some consolidation after indexes ended at their highest close since November 2010 on Friday.

Earnings will be key, with Coal India Ltd, State Bank of India Ltd and Jet Airways Ltd set to report next week. Investors will also be eyeing whether strong foreign buying continues.

Overseas investors were net buyers for 21 consecutive sessions as of Thursday, bringing their net purchases for the year to about USD 13 billion, according to regulatory data.

Also read: India offers best balance of value, profitability: HSBC

The stock rally has been sparked by expectations that easing inflation will allow the Reserve Bank of India to cut interest rates as early as next month, and any adjustments in those expectations could also impact shares.

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