Many blue chips to declare Q2 results this week

Second quarter earning season reporting will be in full steam right from Monday, which may turn market participants’ focus from global cues to individual companies’ earnings and guidance.

However the US market’s strong close on Friday despite around 4 per cent weekly loss will be another factor and how Asian markets opens would decide Indian market’s opening.

During this week index heavy weights announcing their earnings include Infosys and Hero MotoCorp on Wednesday, Reliance Industries on Thursday and HDFC Bank on Saturday.

Other big names like Ultratech Cement, ACC, IndusInd Bank, Indiabulls Housing Finance, Fedral Bank, J&K Bank, DCB Bank, SBI Life Insurance, ICICI Lombard General Insurance and Crisil will be also reporting their July-September performance during the week.

Among the information technology companies, besides Infosys, other mid-cap cap names that will announce their earnings include Mindtree, Mphasis, NIIT Technologies and Cyient.

Other significant names declaring their results include Havells, Zee Media, South Indian Bank and Monnet Ispat.

Jimeet Modi, CEO, Samco Securities, said, "Wth the onslaught of results, stocks are expected to be very volatile, but nonetheless the market should rise during the results season.”

Mustafa Nadeem, CEO, Epic Research, said, “Since there is a substantial drop in VIX last week we expect it to reduce further, as the Nifty tries to make a short-term bounce to higher levels. The appreciation in the rupee by 3/4th of a percent has also added buoyancy to index and stocks  Buying was seen at lower levels in blue-chips such as Reliance, HDFC Bank, ITC and Maruti that indicated the short-term rally to be firm.