INSUBCONTINENT EXCLUSIVE:
The general election along with fourth quarter results season is set to flare up near-term volatility in the domestic equity market,
analysts say.Other factors such as ongoing quarterly results season along with crude oil price fluctuations as well as the direction of
foreign fund flows and the rupee's movement against the US dollar are also expected to impact investors' risk-taking appetite."As we are
close to the election result day, volatility has touched a multi-year high and it is expected that going forward volatility will continue to
Edelweiss Investor Research: "Equity indices have remained in a broad range with volatility expanding marginally."Expect some more
consolidated which should pave the way for an eventual breakout to the upside
Result season is turning out to be on expected lines with no major disappointments for now."Currently, out of 543 Lok Sabha seats, voting
has been completed in 373 during the four phases out of seven
The voting for fifth phase will be held on May 6 with the results being announced on May 23.Besides the general elections, the ongoing
Wockhardt, Vedanta, Titan Company, HCL Technologies, PNB Housing Finance, Voltas, Allahabad Bank, Canara Bank, Larsen Toubro and State Bank
of India are expected to announce their Q4 earning results this week."Apart from the election outcome, the market will take cues from the
evolving global as well as domestic factors especially, the foreign flow of fund and the quarterly results of the company," Mr Aggarwal
said.In terms of currency, Sajal Gupta, head forex and rates, Edelweiss Securities said: "Expected range for the week would be between 68.80
were weakening during the week and rupee was an outperformer."Last week, rupee on a weekly basis strengthened to 69.22 per greenback.On the
technical levels, the underlying short-term trend of the National Stock Exchange's (NSE) Nifty50 remains mildly upbeat."Technically, with
the Nifty trading in a tight range and holding above the crucial supports of 11,550, the index remains in a mild intermediate uptrend," said
Deepak Jasani, head of retail research for HDFC Securities."Further upsides are likely in the coming week once the immediate high of 11,856
Crucial supports to watch for a trend reversal remain at 11,550."Get the latest election news, live updates and election schedule for Lok
Sabha Elections 2019 on TheIndianSubcontinent.com/elections
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Election results will be out on May 23.
