New Delhi: The share markets are expected to remain range bound in the forthcoming week and it may witness investors booking profits as Infosys Technologies' fourth quarter results and earning guidance failed to meet Dalal Streets' expectations. (Agencies)
In the previous week, the Bombay Stock Exchange key index Sensex lost65 points or 0.33 per cent to settle at 19,386.82.
According to analysts, stock market will see profit booking by the jittery investors as Infosys delivered a below-expectation fourth quarter numbers and revenue guidance.
"Market is likely to be range bound this week. Monday will see impact of Infosys numbers which were lower than expected. Bulls will take a backseat during this week and investors will bear a cautious approach," Ashika Stock Broking Research Head Paras Bothra said.
Infosys had on Friday reported a 13.62 per cent jump in net profit at Rs 1,818 crore for the fourth quarter ended March 31, 2011. It reported a revenue of Rs 7,250 crore for the quarter.
The company expects revenue in the range of Rs 7,311-7,382 crore for the quarter ending June 30, 2011, and in the range of Rs 31,727-32,270 crore for FY12.
Market experts also said that the overall market has turned a little volatile after the late March rally, which was sparked by robust FII inflows.
"The overseas inflows have slowed lately even as concerns prevail over earnings prospects amid high inflation. Globally too, a few problems persist. As a result, one should tread cautiously in the near term and wait for further clarity," IIFL Head of Research (India Private Clients) Amar Ambani said.
"Monday would see some selling pressure in the Infosys stock which will in-turn dampen the overall market sentiment. The quarterly numbers of domestic companies will dominate the
global events this week," Geojit BNP Paribas Financial Services Research Head Alex Mathews said.
New Delhi: The share markets are expected to remain range bound in the forthcoming week and it may witness investors booking profits as Infosys Technologies' fourth quarter results and earning guidance failed to meet Dalal Streets' expectations.