Market Weekahead - Indian shares to trade range-bound; earnings eyed

Reuters
The Bombay Stock Exchange (BSE) building is pictured next to a police van in Mumbai April 9, 2014. REUTERS/Danish Siddiqui

REUTERS - Indian shares are likely to be range-bound, retreating from a string of record highs, with caution prevailing as blue chips continue to report their January-March earnings. Disappointment over earnings at some blue chips such as Maruti Suzuki Ltd and ICICI Bank Ltd on Friday cast a shadow over upcoming results, putting in doubt some of the bets over an economic recovery. Hindustan Unilever Ltd and Bharti Airtel Ltd report quarterly earnings on Monday and Tuesday, respectively. Foreign fund flows would be another key factor as overseas investors continued to buy Indian shares for the fourth straight session on Wednesday. Investors would be cautious as markets hit record highs for the fourth straight session before closing 0.85 percent lower on Friday. KEY EVENTS/FACTORS TO WATCH: Monday: Earnings - Hindustan Unilever, Idea Cellular Ltd Tuesday: Bharti Airtel earnings Thursday: Markets closed for public holiday Friday: Manufacturing PMI (indulal.p@thomsonreuters.com/indulal.p.thomsonreuters.com@reuters.net)