Apart from that, average closing of US markets on Friday, last trading day of previous week and two holidays on the occasion of Mahavir Jayanti on 7 th April and Good Friday on 10 th April might have some impact on the markets. Dealers in the markets also added that, G-20 meeting is unlikely to have any major impact on the Indian markets as the news has already been factored in.
Amrish Baliga, VP of Karvy stock broking said, The rally we are witnessing in the past few days is in line with the global markets. However there are no cues on the domestic front which can sustain this upward rally in the coming days too and we might witness some volatility in the markets.
On Thursday last trading day of previous week, the 30-share Sensex of Bombay Stock Exchange (BSE) added 446.84 points or 4.51% to close the day at 10,348.83 points. The broader S&P CNX Nifty of National Stock Exchange (NSE) added 150.70 points or 4.92% to end the day at 3,211.05 points.
Dealers in the markets also expect some rate cut from the Reserve Bank of India (RBI) in the coming days, as inflation is below 1% mark. An analyst from the leading broking house said, In the coming days too, Banking and Realty stocks will remain in demand. However two holidays in the week, might lead to less participation in the markets.
Foreign institutional investors (FII) are slowing entering the Indian markets but analyst sense that, once the new government is formed at centre, more FIIs will star entering the Indian equity bourses.