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Global cues, Infosys developments to dictate market this week: Experts

Investors would also keep an eye on Jackson Hole economic policy symposium later this week

Press Trust of India  |  New Delhi 

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Global cues and developments at the crisis-hit will dictate market sentiment in a holiday-shortened week ahead, say experts.

will be closed on Friday for 'Ganesh Chaturthi'.

Vishal Sikka's surprise resignation as CEO on Friday threw off-track as the careened off 271 points.

was the biggest loser in the pack, sinking 9.60 per cent.

The stock will be in focus on Monday after the company's board on Saturday approved the share buyback plan of up to Rs 13,000 crore to reward shareholders.

It will buy back 11.3 crore at Rs 1,150 apiece, returning to investors at almost 25 per cent premium to the Friday's closing price of Rs 923.10, the Bengaluru-based company said in a stock exchange filing.

"A lack of participation and selling pressure in Bank, Pharma coupled with IT, due to Infosys, is what is keeping at lower levels. So any change in breadth of these sectors will play a crucial role for coming sessions to determine the trend," said Abnish Kumar, Technical Analyst, Aadya Trading and Investments.

Vinod Nair, Head of Research, Geojit Financial Services Ltd, said, "On the global front, investors were jittery on account of a terrorist attack in Europe which also dampened the sentiment."

Investors would also keep an eye on Jackson Hole economic policy symposium later this week.

"An important event lined up this week is the jamboree in Jackson Hole, Wyoming," said V K Sharma, Head PCG, HDFC Securities.

Over the last week, both and recorded gains of 311.09 points, or 0.99 per cent, and 126.60 points, or 1.30 per cent, respectively.

First Published: Sun, August 20 2017. 13:37 IST