“The trend in global markets will be guided by developments in Brexit deal talks and updates on the expected US stimulus package,” said Vinod Nair, head (research) at Geojit Financial Services.
Siddhartha Khemka, head (retail research) at Motilal Oswal Financial Services, said, “The overall trend of the market remains positive as it is showing resilience on the back of abundant liquidity, positive developments on the vaccine front and signs of economic recovery.”
He, however, added that the market may consolidate at these levels for some time given stalemate in US stimulus and concerns over probable no-deal Brexit talk.
During the last week, the 30-share BSE benchmark index jumped 1,019.46 points or 2.26 per cent.
“Indications are in favour of some consolidation in the index and it would be healthy for the markets,” Ajit Mishra, vice-president (research) of Religare Broking Ltd, said.
Binod Modi, head (strategy) at Reliance Securities, said, “Any possible no-deal Brexit may be a near-term headwind for the markets ahead of the December 31 deadline.”
He added that given persistent dovish tone of global central bankers, improved prospects of sound earnings growth and weak dollar index, “we believe FPI flow should remain benign in subsequent period for domestic markets”.
Brent crude oil movement and trend in rupee would also be watched by investors.