Auto stocks will be in focus as companies will unveil their sales data for December 2013, on Wednesday

Stock markets are expected to continue their bull run this week amid robust overseas investments while global cues and quarterly earnings, starting next month, will dictate near-term trend on the bourses, say experts.

Besides, auto stocks will be in focus as companies will unveil their sales data for December 2013, on Wednesday.

Analysts said the next big trigger for the markets are October-December quarterly earnings which will begin around mid-January.

“This week, we are entering a new calendar year and as of now, the bias is in the favour of upward trend, which is likely to continue. But, we have some important data – fiscal deficit numbers, manufacturing and services PMI – scheduled in the coming sessions, so one should keep a cautious stance,” said Jayant Manglik, President-Retail Distribution, Religare Securities.

According to Rakesh Goyal, Senior Vice President, Bonanza Portfolio: “FIIs have been net buyers this month till now. Political developments within the country have also been taken positively so far.

“RBI’s decision to keep interest rates steady for now was also positive. So, along with strong global cues, the Nifty is seen heading towards an upward zone.”

“In the coming sessions, 6,325 shall be a crucial deciding level in near term, and the index is likely to witness further buying above this level,” he added.

According to Vivek Gupta, Director Research, CapitalVia Global Research: “For this week, Nifty can manage to show some bull run as technically it is looking strong on charts.”

For more visit: Business Standard

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