Markets may see volatile sessions; progress of monsoon key: Experts

Say that global events such as Greece outcome could also drive the markets

Stock markets may witness volatility this week amid expiry of derivatives contracts and progress of monsoon, say experts.

"Going forward, in the absence of any key domestic or global expected news flow, the progress of monsoon will continue to dictate short-term market sentiments.

"Also important is the spatial distribution of monsoon going ahead, as sowing of crops takes place in the months of July and August," said Hitesh Agrawal - Head Research, Reliance Securities Limited.

Market experts said that global events such as Greece outcome could also drive the markets.

"Apart from this, with Greece's current bailout programme running out by the end of this month, how the progress is made on resolving this issue will also affect global investor sentiments," Agrawal added.

Moreover, investment trend by overseas investors, movement of the rupee against the dollar and crude oil prices will also be crucial for market movement.

Market participants said that investors will also keep an eye on how the monsoon progresses.

Overall, the country has so far received 10 per cent rains more than the normal limit.

Analysts said that being an expiry week, volatility is expected due to futures and options contracts expiry on Thursday.

On weekly basis, Sensex and Nifty have gone up by 890.83 points and 242.05 points, respectively, snapping their three-week losing streak.

The Sensex concluded the week at 27,316.17, while Nifty was at 8,224.95 level.