“This week, sector-specific movements are expected amid budget-related buzz. Key factors to watch include the progress of the monsoon, which will be closely monitored for its near-term impact on investor confidence.
“Investors will also be watching FII (Foreign Institutional Investors) and DII (Domestic Institutional Investors) fund flows as well as crude oil prices to gauge overall sentiment,” said Pravesh Gore, senior technical analyst at Swastik Investsmart Ltd.
On the global front, economic data like US GDP will be released on June 27, he added.
Ajit Mishra, senior vice-president, research, Religare Broking Ltd, said, “Further focus will be on Budget and global market cues, especially updates related to the US.”
Volatility may increase due to the scheduled expiry of derivatives contracts in June, he added.
Last week, the BSE benchmark climbed 217.13 points or 0.28 percent, while the Nifty gained 35.5 points or 0.15 percent.
Siddharth Khemka, head of retail research at Motilal Oswal Financial Services Ltd said, “Overall, the market is likely to remain stable and consolidate at higher levels in the near term. Budget-related sectors are likely to remain active.”
Srikant Chauhan, head of equity research at Kotak Securities, said market participants will be watching for further progress in Monsoon.
“Going forward, the focus will gradually shift to the budget and Q1 FY25 earnings,” Chauhan added.
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