With no major domestic event lined up, the Indian equity markets may remain range-bound this week and will take cues from global trends, according to analysts.
“Since the result season is almost over, market will take cues from international factors namely US-Sino trade deal. Lack of positive triggers may certainly keep markets dull and range-bound,” said Jimeet Modi, Founder and CEO, SAMCO Securities & StockNote.
According to Mustafa Nadeem, CEO, Epic Research, “We have China”s interest rate decision and other regular data coming from United States.The condition in Hong Kong has worsened as police have warned of complete breakdown in the city. The markets are on their toes and may react positively if US and China solidly agree on reducing trade war or an interim trade pact.”
Last week, the BSE Sensex rose marginally by 33 points.
“On global front, signs of progress in US-China trade deal has improved overall sentiment across global markets. However, domestic macros are not providing confidence to investors. But in recent times we are seeing some concrete steps from the government and RBI to push growth which will soothe investors” nerves.
“Going ahead, RBI is likely to give more focus on growth rather than rising inflation in the near term which may influence them for few more rate cuts and induce greater transmission,” said Vinod Nair, Head of Research, Geojit Financial Services Ltd.