Thursday , August 24 2017
Financials News

Stock markets may see volatility this week: Experts

Stock markets may see volatility this week: Experts

New Delhi: Stock markets may see volatile trading sessions this week amid derivatives expiry and will be guided by global cues for further direction in the short-term, say experts.

“Overall, market appears to be going through a long phase of consolidation before a decisive move is confirmed on either side as almost all positive triggers factored in,” said Vijay Singhania, Founder-Director, Trade Smart Online.

On the political front, developments in the budget session of the Parliament will also be keenly watched, he added. The budget session of the Parliament will conclude on April 12.

“Volatility to remain high as we go into the expiry of March series derivative this week which is also the fiscal year closing,” said Abnish Kumar Sudhanshu, Director and Research Head, Amrapali Aadya Trading & Investments.

Meanwhile, in a major setback to US President Donald Trump, House of Representatives Speaker Paul Ryan on Friday withdrew a healthcare bill aimed at repealing and replacing the ObamaCare policy from vote as the Republican party failed to muster the requisite votes to get the legislation passed.

“Global stock market movement will guide the direction for domestic markets in the short-term,” said Jimeet Modi, CEO, SAMCO Securities. Auto stocks will be in focus as companies will start reporting sales data for March, beginning Saturday.

Both the key indices posted their first loss in three weeks, with BSE Sensex slumping 227.59 points, or 0.76 per cent, and the Nifty 52.05 points, or 0.56 per cent.

PTI