“Most of the corporate results have been announced and as of now there is as no fresh trigger in the market. Tracking global markets, the domestic indices are expected to open with downward bias,” Unicon Financial Chief Executive Gajendra Nagpal said.
On Friday, the US and European stock markets ended in deep red with key indices plunging up to 2 per cent, following reports of a criminal probe into the Goldman Sachs Group by the US market watchdog SEC. Investors are also keenly watching the developments on the Greece debt crisis.
Analysts, however, said though global cues would be major factor for deciding directions of the domestic market, negative sentiment will be for a shorter span and sustained inflow from overseas fund houses will keep the market shining.
In the past week, the Bombay Stock Exchange’s barometer Sensex declined 135 points as volatility dominated the market on concerns of the expiry of the F&O segment and on S&P’s downgrading of Greece, Portugal and Spain.
Over the weekend, Dow Jones fell 1.42 per cent, S&P 500 by 1.67 per cent and Nasdaq dropped 2.02 per cent.
On Friday, Goldman Sachs shares plunged 9.39 per cent, triggering a sharp fall in other United States financial stocks as the SEC began a criminal probe into its recent past.
Asian stock markets, however, bucked the trend with Japan’s Nikkei rallying 1.21 per cent and China’s Shanghai Composite gaining modestly by 0.08 per cent.
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