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Monsoon, GST preparedness to dictate stock mkts: Experts

Press Trust of India  |  New Delhi 

With no major events lined up for this week, would take cues from progress of monsoons and the country's preparedness ahead of the July 1 rollout of the new indirect regime, say experts.

"We are unlikely to see much volatility in the market this week. However, implementation date is approaching fast so indices are likely to take trigger from the development.

"Further, progress in monsoon in other parts of must be the watching point on the indices. Hence, we expect range-bound trade for indices on account of lack of trigger this week," Abnish Kumar Sudhanshu, Director & Research Head, Amrapali Aadya Trading & said.

Both the key indices registered their second straight weekly fall by losing 205.66 points, or 0.65 per cent, and 80.20 points, or 0.82 per cent, respectively.

"With no major new trigger this week, markets will continue to remain very stock-specific now and it will continue to trade in a tight range until there is a trigger," Vijay Singhania, Founder-Director, Trade Smart Online said.

"Ongoing progress on implementation of Goods and Services (GST) and monsoon will be the two near-term factors that will drive markets. Now onwards, investors will continue to watch the progress of monsoon rains," he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, June 18 2017. 10:57 IST