As the election-related uncertainties are over, investors will now shift their focus to the Union Cabinet formation that is expected to take place this week. Additionally, the next batch of corporate earnings, GDP growth data, movement of rupee against US dollar, and global cues will guide the markets this week.

Last week, markets celebrated the return of Narendra Modi govt with the benchmark indices and Bank Nifty touching all-time highs. The S&P BSE Sensex crossed 40,000 for the first time ever and Nifty crossed 12,000 in intraday.

On a weekly basis, Sensex and Nifty rallied nearly 4 per cent each and ended at record closing highs of 39,435 and 11,844, respectively.

Corporate earnings

Close to 2,500 companies will announce their Q4 earnings this week, These include Punjab National Bank, Adani Ports, InterGlobe Aviation (IndiGo), SpiceJet, BHEL

Global cues

Asian stocks edged up early in the early trade on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.1 per cent with Japan’s Nikkei climbing 0.2 per cent.

On Wall Street, US stocks ended up to 0.3 per cent higher. The Dow Jones gained 95 points to close at 25,586 while the S&P500 ended 4 points higher at 2,826 levels. The Nasdaq closed 9 points higher at 7,637.

Commodities

In commodities, oil prices rose today as ongoing supply cuts kept markets relatively tight.