New Delhi, July 24 The near-term market trend will be influenced by a host of factors like the recent Q1 results, some major results expected this week and policy decisions like the US Federal Reserve meeting outcome on Wednesday, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Q1 results of RIL, though a tad disappointing on top and bottom line, are good when viewed from the perspective of the growth engines of the company -- Jio Infocom and Reliance Retail -- which are doing well and shows promise of improving, going forward, he said.
ICICI Bank has delivered the best results in the banking universe with 40 per cent growth in net profit and impressive loan growth. Kotak Bank, too, has done well.
But since the NIMs are likely to remain under pressure, no big spurt in earnings growth can be expected, in the coming quarters. So, while these stocks will remain strong and resilient, a sustained rally appears difficult, he added.
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