From the start of the week itself it was evident that individual stock performances would be playing a big role in this earning season. The markets started with a marginally positive bias and though there was volatility in the markets throughout the week, the closing on each day pretty much summed up the story as flat to negative.
The week started with the Nifty crossing 6200 for the first time since 2010. As market pundits and observers were expecting another good week, the markets it seemed, had a mind of its own. Although the intraday volatility let the markets to touch 3yr peaks in trading, the gains were given up as soon as they were achieved and everybody who was expecting a new high was left high and dry.
Individual stock performances after earnings reports and profit booking on a large scale was the name of the game throughout the week which led to wild swings in the markets. The RBI monetary policy is due on October 29th and market will by and large maintain the same mood till then. It is widely expected that the interest rates will not be cut any time soon and are somewhat likely to go up to rein-in the inflation at the expense of growth.
As anticipation of the RBI monetary policy hangs over a major part of next week, markets are bound to see more volatility in intraday due to stock performances but by and large the indexes will stay where they are in a wait and watch mood.
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