According to the spokesperson from CapitalVia Global Research, trends in overseas markets, investment by foreign investors, movement of rupee against the US dollar, among others will dictate the trend of the market in the near-term this week.
Domestic stocks, which will open for trading after a long break on Monday, are likely to witness volatility this week as investors keep a watch on derivatives expiry as well as a host of global cues including crude oil prices.
The shares of automakers would remain in focus as they would be coming out with their monthly sales data from this Friday onwards.
"Stock markets are expected to remain volatile as traders roll over positions in the derivative segment. We believe that the next big trigger for the market will be the Reserve Bank of India (RBI) policy on April 5," Trade Smart Online's Founder Director Vijay Singhania said.
The market would be opening after a gap since Thursday and Friday were holidays on account of Holi and Good Friday, respectively.
CapitalVia Global Research's Founder and CEO Rohit Gadia said trends in global markets, investment by foreign investors, movement of rupee against the dollar and crude oil prices would "dictate trend of the market in the near-term".
"The market may remain volatile as derivative contracts for March expires on Thursday," he added.
Over the past week, which had three trading sessions, the benchmark 30-share Sensex gained 1.5% to end at 25,337.56.
Geojit BNP Paribas Financial Services Head (Fundamental Research) Vinod Nair said the next leg of the rally would also depend on RBI's monetary policy decision on April 5. Any positive outcome would keep the uptrend open, he added.
"We will get into the derivative expiry week as well as the financial year-end. We hope to come back refreshed from a long-weekend to take up fresh positions to gain from further upsides," Motilal Oswal Securities AVP-Midcaps Research, Ravi Shenoy said.
Amid fluid global economic conditions, the rupee has been hovering at little over 66 against the US dollar while crude oil prices have been slowly inching up in recent weeks.
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