This week, the market will be awaiting key inflation data from the US and India for clues on the rate hike trajectory of central banks.
"With the anticipation that companies would keep up their momentum from the previous quarter into the second quarter, investors may see whipsaw movements in the stock this week as results beat or miss market expectations," said Yesha Shah, head (equity research) at Samco Securities.
On the Multi Commodity Exchange, crude for delivery in December traded higher by Re 1, or 0.02 percent, to Rs 4,273 per barrel in 14,137 lots.
Silver contracts for March delivery rose by Rs 57, or 0.13 percent, to Rs 44,550 per kg in a business turnover of 2,185 lots on the Multi Commodity Exchange.
Silver contracts for December delivery rose by Rs 171, or 0.39 per cent, to Rs 44,043 per kg in a business turnover of 2,950 lots on the Multi Commodity Exchange.
On the Multi Commodity Exchange, crude oil prices for November delivery dropped by Rs 34, or 0.83 per cent, to Rs 4,042 per barrel with a business volume of 20,411 lots.
On the Multi Commodity Exchange, crude oil for delivery in November dropped by Rs 36, or 0.91 per cent, to Rs 3,924 per barrel with a business volume of 19,919 lots.
Crude oil contracts for July delivery also fell by Rs 90, or 2.4 per cent, to Rs 3,661 per barrel in a business volume of 2,080 lots.
On the Multi Commodity Exchange, gold contract for August delivery was trading down by Rs 88, or 0.27 percent, at Rs 31,950 per 10 gram in a business turnover of 2,730 lots.
At the Multi Commodity Exchange, gold for delivery in June moved up by Rs 6, or 0.02 percent, to Rs 31,774 per 10 gram in a business turnover of 641 lots.
On the Multi Commodity Exchange, gold prices for delivery in April contracts was down by Rs 79, or 0.25 percent, to Rs 31,528 per 10 gram in a business turnover of 3,028 lots.
Similarly, the delivery for far-month June for the yellow metal was up by Rs 106, or 0.33 per cent, to Rs 32,150 per 10 gram with a business volume of 11,825 lots.
At the Multi Commodity Exchange, copper for delivery in April was trading lower by 75 paise, or 0.17 percent, to Rs 447.05 per kg in a business turnover of 1,632 lots.
At the Multi Commodity Exchange, gold for delivery in far-month June fell by Rs 160, or 0.50 percent, to Rs 31,900 per ten grams in business turnover of 105 lots.
At the Multi Commodity Exchange, zinc for delivery in current month moved up by Rs 1.55, or 0.81 percent, to Rs 193 per kg, with a business turnover of 1,044 lots.
At the Multi Commodity Exchange, aluminium for delivery in March edged up by 40 paise, or 0.28 percent, to Rs 144.25 per kg in 1,965 lots.
Silver for delivery in May traded higher by Rs 120, or 0.32 percent, at Rs 38,184 per kg in a business turnover of 19,695 lots at the Multi Commodity Exchange.
Benchmarks as well as the broader markets have wiped off a lot of gains made over the last couple of weeks. Going into trade the next week, here are the triggers that investors will need to track.
Sector-wise, FMCG, IT and Pharma could see a weak trend. Here's Swait Hotkar, Technical Analyst at Nirmal Bang, recommending what to pick in this episode of Buy or Sell.
For the market, the expert sees earnings to set the tone going ahead, the pace of this recovery is likely to be a gradual one.
If the trade war escalates, then China could sell US treasuries and buy gold.
Bulls need to be cautious from here and a trend reversal will only happen if there is formation a bullish candle on Thursday. Top four stocks to buy which are looking attractive based on technical parameters.
"The MPC is dedicated to achieve the 4 percent headline CPI inflation target while keeping in mind the objectives of growth," Governor Urjit Patel told reporters in the customary post-policy presser.
Market participants are also digesting the fallout of the government's move to demonetise high-value notes.
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