The elections are over, the RBI has decided to keep the repo rate unchanged and the US Federal Reserve has refused to cut interest rates. The industrial production data and inflation data have also been revealed. Two major market-moving weeks are behind us and there are no drastic domestic or foreign triggers ahead of us. The upcoming week is unlikely to see major volatility and investors will track global cues and follow trends set by foreign investors.
Other market triggers include Brent crude movement, rupee-dollar trend, data from China and US bond yields.
With equity markets closed on Monday for Bakrid, this week will only have four trading days. Santosh Meena, Head of Research, Swastika Investmart Ltd, told PTI, "This week is a truncated one with no major triggers expected. However, we anticipate sector-specific movements amid budget-related buzz. Key factors to watch will be progress of monsoon and institutional flows.”
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, told the new agency that Bank of England interest rate decision will also be crucial. "We expect market uptrend to continue this week supported by positive macro trends, expectation of sustained government spending and policy continuity, healthy monsoon and strong earnings," he added.
The 30-stock BSE Sensex hit its lifetime peak of 77,145.46 on June 13 while Nifty touched record high of 23,490.40 on June 14.
