Indian stock indices rose substantially on Monday, defying a sharp downturn in the overnight US markets, possibly due to inherent strength in domestic market fundamentals.
Indian stock indices settled the week's trade on a high, keeping the gains that were accumulated throughout the day intact. The indices were supported by continued buying by foreign portfolio investors.
The Indian stock markets have outperformed emerging markets over the past 18 months due to strong domestic flows and healthy earnings, says a report by Dolat Capital.
The stock market in the upcoming week will be looking at global happenings such as international market performance, anticipations of recession in the US, and domestic macroeconomic indicators such as IIP, CPI, and WPI inflation data, said market analysts.
After recovering from the post-budget losses, the Indian stock market closed in green for the first time this week after five consecutive trading day's losses.
As the selling pressure continues for the last two consecutive days following the Union Budget announcement, the Indian stock market is expected to follow the global trend as the S&P 500 and Nasdaq hit multi-week lows.
As the highly-anticipated Union Budget week is going to commence today, investors' sentiments in the equity market will be driven by the announcements made by Finance Minister Nirmala Sitharaman.