Monsoon, vaccination and global trends to drive Dalal Street this week: Analysts
PremiumOn Friday, the BSE gauge ended 21.12 points or 0.04 per cent higher at 52,344.45
New Delhi: With no major domestic macroeconomic data to be released this week, the equity market trend will be determined by global cues, the pace of monsoon and the vaccination drive, analysts said.
"Markets are likely to spend some more time in a range and we expect volatility to remain high due to the scheduled derivatives expiry of June month contracts. With no major event, participants will be closely eyeing the global markets for cues.
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"Besides, the progress of monsoon and updates on the vaccination drive will also be in focus," said Ajit Mishra, VP Research, Religare Broking, PTI reported.
"Going ahead, monsoon and the pace of vaccination would decide the further direction of the market," PTI quoted Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Meanwhile, on Friday, the BSE Sensex staged a smart recovery to end in the positive terrain after diving over 722 points during the session on Friday, as heavyweights Reliance and HDFC duo saved the day for the benchmark.
After swinging over 985 points during the day, the BSE gauge ended 21.12 points or 0.04 per cent higher at 52,344.45.
On the other hand, the broader NSE Nifty slipped 8.05 points or 0.05 per cent to close at 15,683.35. Intraday, the index touched a high of 15,761.50 and a low of 15,450.90.
However, Adani Group companies gained after four days of downfall. Adani Enterprises was up by 8.7 per cent and closed at ₹1,487.85 per share. Adani Ports surged by 7.1 per cent to close at ₹693.15 per unit.
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