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'Stock mkts to look at global trends for further triggers'
With quarterly results season coming to an end, Indian indices will take cues from global events for further triggers, with the general trend of the equity market expected to remain positive, say experts.
"FOMC minutes will be the key event to watch for this week. The Federal Reserve will issue minutes from its most recent monetary policy meeting on Thursday. The readout will provide a sense of central banker's views of the economy and the outlook for interest rates," said VK Sharma, Head Private Client Group & Capital Market Strategy, HDFC Securities.
The general trend of the markets is largely expected to be positive, he added.
"The domestic market outlook looks changed after Moody s upgrade of India's credit ratings. This upgrade is expected to push liquidity into domestic market," said Vinod Nair, Head of Research, Geojit Financial Services.
Investors will closely monitor the crude prices and US FED rate hike which are expected to bring some volatility. For the week ahead, with second quarter results out of the way, global cues will be the key driver for the markets, with underlining trend expected to be positive, Nair added.
Moody's Investors Service on Friday raised India's sovereign rating for the first time in over 13 years, saying that growth prospects have improved with continued economic and institutional reforms.
"With results season coming to an end, Indian markets will keenly look towards global events for further triggers.
Whether the rising prices of crude oil has paused or the bigger uptick is coming," said Jimeet Modi, Founder & CEO, Samco Securities.
Over the last week, the Sensex eked out gains of 28.24 points, or 0.08 per cent, but Nifty dropped 38.15 points, or 0.36 per cent.
"Moody's ratings upgrade is a testimony of the fact that the government's roadmap of fiscal reforms is on the right path. This global recognition is a positive step for overall Indian economy and it will also help in attracting global inflows into India," said George Alexander Muthoot, MD, Muthoot Finance.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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