Domestic indices will track macroeconomic data announcement and global events like the US Fed interest rate decision for its movement this week, analysts said."This week, domestic markets will be waiting for major data points like inflation and import-export updates.
"The trend in global markets will be guided by developments in Brexit deal talks and updates on the expected US stimulus package," said Vinod Nair, head (research) at Geojit Financial Services.
Siddhartha Khemka, head (retail research) at Motilal Oswal Financial Services, said, "The overall trend of the market remains positive as it is showing resilience on the back of abundant liquidity, positive developments on the vaccine front and signs of economic recovery."
He, however, added that the market may consolidate at these levels for some time given stalemate in US stimulus and concerns over probable no-deal Brexit talk.During the last week, the 30-share BSE benchmark index jumped 1,019.46 points or 2.26 per cent."Indications are in favour of some consolidation in the index and it would be healthy for the markets," Ajit Mishra, vice-president (research) of Religare Broking Ltd, said.