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Dalal Street Set for Range-Bound Trading This Week Amid Global Caution
Analysts predict a week of range-bound trading on Dalal Street with no major domestic or global triggers. Caution prevails as investors remain wary of market performance.
Lead: This week, the stock market on Dalal Street is expected to experience range-bound trading, as analysts signal a lack of significant triggers on both domestic and global fronts. With the previous week ending with a modest rise in indices, market experts are concerned about potential downward corrections. The predominantly cautious sentiment stems from disappointing global cues, particularly from US and European markets.
Current Market Situation and Predictions
– Analysts suggest that the market is running out of steam, with indices fluctuating within a strong range.
– According to ICICI Direct, the domestic market appears slightly vulnerable in terms of valuation and risk-return balance.
– Avinash Gupta, assistant vice-president for research at Bonanza Portfolio, emphasizes that investors may influence sideways trading this week.
Global Influences and Investor Sentiment
– Following negative trends from global markets, particularly Wall Street, Dalal Street may start the week with a downward bias.
– Alex Mathews, research head at Geojit BNP Paribas, noted that despite the weak global signals, Foreign Institutional Investors (FIIs) remain optimistic about India’s growth story.
– Last week, FIIs injected a net of ₹5,590 crore into Indian stocks, increasing their total investment for 2010 to ₹51,185 crore according to SEBI data.
Key Economic Indicators to Watch
– The faster progress of the monsoon and upcoming Index of Industrial Production (IIP) figures for June are expected to significantly influence market trends this week.
– Analysts observe that in previous weeks, the domestic markets showed recovery, with the Sensex gaining approximately 276 points or 1.5%, closing at 18,143.99.
Conclusion: As Dalal Street navigates another week of trading, wary investors should keep an eye on international markets and key domestic indicators. Market sentiment appears cautious, but sustained inflows from foreign investors could offer a cushion against downward pressure.
Keywords: Dalal Street, range-bound trading, stock market, Foreign Institutional Investors, IIP June, monsoon progress, Sensex, global market trends
Hashtags: #DalalStreet #StockMarket #Investors #FIIs #Monsoon #IIPFigures #MarketTrends
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