Robust IT results, good monsoon forecasts and recovery in the global markets had a ripple effect on the Indian bourses. The Sensex gained 513 points or 3.83 per cent to end at 13,897 points. | |||||||||||||||||
All sectors, except information technology witnessed a rally. While banking stocks saw some value buying at low levels, cement stocks gained on strong fourth quarter results. However, rising rupee marginally affected IT stocks. | |||||||||||||||||
What to expect this week | |||||||||||||||||
The markets are expected to remain volatile due to expiry of April derivatives contracts. | |||||||||||||||||
Moreover, market experts are keenly awaiting the outcome of Reserve Bank of India's monetary policy review slated on Tuesday, April 24. The general consensus is that the central bank will hold interest rates steady. | |||||||||||||||||
On the results front, heavyweights like Maruti Udyog, Reliance Industries and Ranbaxy Laboratories will be announcing their quarterly results on April 24, 26 and 27, respectively. | |||||||||||||||||
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