Markets May See Volatility, Maruti, ICICI Bank Results Awaited: Experts

New Delhi: Quarterly earnings from blue-chips including ITC, Maruti Suzuki India and ICICI Bank would set the tone for the stock markets, which is expected to remain volatile during the week from July 27 to July 31, in view of derivatives expiry, say experts.

Besides, Parliament's proceedings would also be keenly watched for the fate of key reform bills including GST (Goods and Services Tax).

"Movement of index in near-term will depend on first quarter results of large-cap companies like Maruti, ICICI Bank, HDFC, Tech Mahindra, PNB," said Vivek Gupta, CMT-director research at CapitalVia Global Research.

Markets may see volatility amid futures and options expiry on Thursday, he added.

"The market is not finding any supporting factor to hold its strength. It is depending on Q1FY16 results for providing support to the earnings outlook and Parliament session to kick start reforms, but the market's confidence is now in question," said Vinod Nair, head-fundamental research at Geojit BNP Paribas Financial Services.

NTPC and L&T are among other blue-chips to report earnings during the week.

"The reaction to Reliance results will largely decide the mood of the market early this week," said Jimeet Modi, CEO of SAMCO Securities.

Reliance Industries on Friday reported its highest quarterly profit in seven-and-a-half years on strong refining and petrochemical margins.

Standalone net profit at Rs 6,318 crore, or Rs 19.5 per share, in April-June was 11.8 per cent higher than Rs 5,649 crore, or Rs 17.5 per share, in the corresponding period a year ago.

"At present, it seems that participants have started feeling apprehensive about the fate of reforms and growth prospects of the economy as a whole, considering the hindrance at every step. Meanwhile, time wise correction in the markets will continue and index would further consolidate in a broader range," said Jayant Manglik, president-retail distribution at Religare Securities.

Continuing last week's bias, the July 27-31 week is going to be volatile due to scheduled derivative expiry of July month contracts, Mr Manglik added.

"Improvement in monsoon is what market players are hoping currently as it may result in further rate cut in the next monetary policy review," he noted.

Last week, the Sensex ended at 28,112.31, down 351 points.