With the corporate earnings season largely over, equity investors would focus on global trends for further direction in a holiday-shortened week ahead, analysts said. Equity markets would remain closed on Thursday for Muharram. "The majority of India Inc's first-quarter earnings werestronger-than-expected and in the absence of a major event, globalcues are expected to guide the market direction," said Nirali Shah,Head of Equity Research, Samco Securities.
Santosh Meena, Head of Research, Swastika Investmart Ltdsaid that on the domestic front, WPI numbers will be released on Monday.
"Our market will also have an eye on the behaviour of FIIsand the dollar index," Meena added. "With positive economic data pointing towards economic recovery,the market is expected to remain bullish in the long term while thepossibility of a short correction in the near term cannot be ruledout," said Vinod Nair, Head of Research at Geojit Financial Services.
During the last week, the 30-share BSE benchmark jumped 1,159.57points or 2.13 per cent. On Friday, the benchmark reached its lifetimehigh of 55,487.79, crossing the 55,000-mark for the first
time."Equity market is likely to continue with its strong positive momentum as the economic activities are expected to further pickup pace with the lockdown measures getting relaxed.
The result season is now largely over with corporate earnings being in line to better-than-expectations,"Siddhartha Khemka, Head - Retail Research, Motilal Oswal FinancialServices said.