Stock markets this week will be steered by the ongoing quarterly earnings season and global trends with the focus shifting to the US elections, analysts said.
The trend among Nifty sectoral indices was largely positive, with Nifty Pharma index up over 2 per cent
Stock markets this week will be steered by the ongoing quarterly earnings season and global trends with the focus shifting to the US elections, analysts said. Markets may also witness volatility amid derivatives expiry this week.
“Going ahead, market is likely to remain in a tight range as US election draws near. We expect more stock-specific action given the prevailing earnings season and mixed global cues. Apart from the US election, investors would watch out for ECB and Bank of Japan (BoJ) monetary policy statement and US GDP data this week,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
All eyes are on US markets for updates on the stimulus package and upcoming presidential elections, Ajit Mishra, VP – Research, Religare Broking Ltd said. “News on COVID-19 cases in Europe will also remain on the participants’ radar. Volatility usually remains high in stocks during the earnings and we’re seeing a similar trend,” Mishra said.