Global factors and FII activity will dictate trends in domestic equity markets this week while assembly poll results of Maharashtra and Jharkhand may impact stocks on Monday, say analysts.
Stock markets witnessed a spirited recovery on Friday with benchmark Sensex and Nifty notching the best single-day gains in more than five months and offering relief after weeks of
correction.
On Friday, Sensex jumped 1,961.32 points or 2.54 per cent to settle at 79,117.11 while Nifty soared 557.35 points or 2.39 per cent to 23,907.25.
“On the domestic front, the outcomes of the Maharashtra and Jharkhand elections will be crucial triggers. Especially Maharashtra where NDA witnessed a one-sided victory which is likely to boost bullish sentiment further. However, global factors continue to pose significant risks. Escalating tensions between Russia and Ukraine, alongside rising crude oil prices, have added to inflationary concerns,” Santosh Meena, Head of Research, Swastika Investmart Ltd, said.
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