Quarterly earnings from blue-chips likeICICI Bank andBharti Airtel would be the key driving force for the stock market this week, while participants will also take cues from global trends and foreign fund inflows, say experts. There may also be bouts of volatility amid derivatives contract expiry, they added. "Q4 earnings, outcome of US Federal Reserve meeting and trend in global markets will set the trend for the market this week. Initially, market will react to the result of index major,Reliance Industries earnings in early trades on Monday and that will set the next directional move in index after the recent consolidation," said Vijay Singhania, Founder-Director, Trade Smart Online. Markets will continue to remain volatile as derivatives contract expire on Thursday, he added. Reliance Industries on Friday reported its highest quarterly net profit in over eight years as fall in oil prices boosted refining and petrochem margins, helping the company post a 16 percent jump in earnings for the three-month period ended March 31. Experts said market men would also monitor the next session of Parliament which will commence from Monday after a month long recess. Upcoming key earnings this week includeAxis Bank,Maruti Suzuki, Bharti Airtel,Idea Cellular and ICICI Bank. "Trend in global market, investment by foreign institutional investors (FII) and domestic institutional investors (DII), movement of rupee against dollar and crude oil price will dictate trend in near term. Market may remain volatile ahead of expiry of derivative contracts," said Rohit Gadia, Founder & CEO, CapitalVia Global Research. On the global front, the two-day US Federal Open Market Comittee (FOMC) meeting is scheduled on Tuesday and Wednesday. The Sensex extended its gains for the second straight week, surging 211 points to end at 25,838.14.
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