New Delhi: With no immediate domestic triggers, stock markets will take cues from global factors, movement of the rupee and investment trend by overseas investors for further direction, say experts. "With no major triggers in the domestic market in the immediate future and earnings season to kick off in mid- October, this week will see a rejig in portfolios. Major focus will be on global cues," said Vijay Singhania, founder-Director, Trade Smart Online.
Experts said lingering uncertainty on the global front may slow the positive momentum in the domestic stocks. "With no major domestic event in the near future, we believe that global cues will largely dictate our market trend in coming days," said Jayant Manglik, President, Retail Distribution, Religare Securities. The benchmark Sensex over the past week gained 1.38 per cent to 26,220.95, with the 50 bps rate cut by RBI leading to smart gains.
"Macroeconomic data, trend in global markets, investment by foreign investors, movement of the rupee against the dollar and crude oil price will dictate the trend of the market in the near term," said Vivek Gupta, CMT ? Director Research, CapitalVia Global Research. Stock markets on Monday may react to the US job data.
"Markets will watch the corporate scorecard. The mood of market will remain buoyant in view of the rate cut," said Jimeet Modi, CEO, SAMCO Securities.
