“Sectoral movements are expected this week amidst the Budget-related talk. Key drivers to watch include the progress of monsoon, whose short-term impact on investor confidence will be closely monitored,” it said.
“Investors will also keep an eye on FII (foreign institutional investors) and DII (domestic institutional investors) fund flows and crude oil prices to gauge the overall sentiment,” said Pravesh Gaur, senior technical analyst at Swastika Investmart.
Globally, economic data such as U.S. GDP is due to be released on June 27, he added.
“Going forward, attention will be focused on updates on the budget and global market trends, especially from the US,” said Ajit Mishra, senior vice-president, research, Religious Broking Ltd. He added that looming expiry of June derivatives contracts could lead to increased volatility. Last week, the BSE index rose 217.13 points or 0.28 percent while the Nifty gained 35.5 points or 0.15 percent. “Overall, markets are likely to stabilise and remain stable at higher levels in the near term. Budget-related sectors are likely to remain active,” said Siddhartha Khemka, head, retail research, Motilal Oswal Financial Services Ltd.
Shrikant Chouhan, head of equity research at Kotak Securities, said market participants will be closely monitoring future developments in the monsoon.
“Going forward, the focus will gradually shift to the budget and Q1FY25 profits,” Chouhan added.
