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.

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"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.