While main indices are coming crashing down, there are a number of mid-caps which have been moving higher, some even hitting upper circuits. We expect a soft start for the key indices. Friday's commendable recovery in the face of a worldwide sell-off could be tested at start following yet another triple-digit loss for the Dow.What could possibly save the bulls from further misery would be stronger than expected earnings announced from the likes of RIL, Maruti and ITC. Hopefully, other big results this week will not let the market down.
On the flip side the market will have to contend with a deluge of earnings, the F&O expiry and the RBI policy. The market will be shut on Tuesday on account of Republic Day.
As far as India is concerned, the RBI is most likely to opt for a calibrated hike in policy rates even as the Government mulls partial rollback of duty cuts.
M&M is expected to report 84.8% jump in sales and 362% jump in PAT. Hero Honda is expected to register 31.7% rise in sales and 69.8% jump in PAT.
