“The market is likely to see a gap-up opening on Monday, and will gain further as investor confidence is upbeat on hopes of a robust first quarter earnings, supported by a rebound in the global markets,” Geojit BNP Paribas research head Alex Mathews said. The market is keenly awaiting the numbers and guidance of the IT bellwether Infosys, which will kick-off the results season on July 13. The IT bellwether not only sets the mood of the sector but the entire market, say analysts.
Progress of the monsoon, coupled with positive economic data, hopes of a robust corporate earnings season and the rebound in global markets will keep investor sentiment upbeat on the Dalal Street, says analysts, adding the progress of the monsoon has already boosted market sentiment and investors are willing to bet high.
Analysts say, sugar stocks may attract some buying on the government talk over the deregulation of sugar prices in the future.
Though the broader market may move in an upward range this week also, stock-specific actions will be more prominent, say brokers.