E-Paper
D-Street likely to move sideways, advance tax numbers awaited
Dalal Street is likely to witness a lacklustre session this week tracking global markets, which are also expected to trade in a limited range, analysts said.
Dalal Street is likely to witness a lacklustre session this week tracking global markets, which are also expected to trade in a limited range, analysts said.
"Trading will be sideways this week but the downside is limited. The market will see a gradual crawling movement with a positive bias," Ashika Stock Brokers Research Head Paras Bothra said.
Marketmen said the March quarter advance tax payment numbers, which are expected on Monday, if good, will give a push to the market.
"The market rallied quite a lot after the Union Budget. It is now consolidating. Advance tax numbers will act as a domestic trigger for short term," SMC Global Vice-President Rajesh Jain said.
The US Federal Open Market Committee meeting on March 16 to discuss the monetary-policy strategy and to give a description of the economy is also keenly awaited.
"The FOMC meet will give an idea as to where the interest rate is heading in the US. This will act as a big trigger for the US market, which have been rangebound for quite sometime, and in turn will impact Indian stocks," Jain said.
The BSE Sensex rose for the fifth straight week, its biggest stretch of weekly gains since June 2009. The key index gained one per cent to close at 17,166.62 points over the week even as traders booked profit on select stocks.
