Oil prices, rupee to set tone for markets this week: Experts

With no immediate major trigger in sight, stock markets are expected to remain volatile and would be guided by trends in oil prices, the rupee movement this week, say experts.

Besides, the ongoing elections in some of the key states would also be watched by marketmen for further cues, they said.

“Market has largely factored in a gradual downgrade in earnings in the second half of FY19. While investors are looking for major triggers for a decisive up move above 10,700 level, stability in INR and oil prices will provide direction to the market despite election led uncertainty,” said Vinod Nair, Head of Research, Geojit Financial Services.

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“Markets are expected to be directionless but volatile which is a difficult scenario for traders to make profits. Hence, traders must be cautious as the indecisiveness of market can result in whipsaw losses,” said Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote.

Last week, the BSE key index gained 298.61 points to end at 35,457.16.