Sentiments in global markets, movement of rupee against the dollar and crude oil prices will dictate near-term trend
The domestic equity market may see volatile trading sessions in a holiday-shortened week ahead, with movement of crude oil prices expected to be an important factor driving stocks in near term, say experts. Markets will remain closed on Friday for Christmas.
"We expect the market to be volatile in the near term due to domestic cues amid the prevailing uncertainty over the passage of the GST", said Vinod Nair, Head-Fundamental Research, Geojit BNP Paribas Financial Services.
The GST Bill is stuck in the Rajya Sabha where the ruling NDA government does not have a majority as well as due to stiff opposition by the Congress.
The government has planned to roll out GST from April 1, 2016. The Winter Session of Parliament concludes on Wednesday.
"Market may remain volatile due to concerns over continuous falling of crude oil prices", said Vivek Gupta, CMT - Director Research, CapitalVia Global Research Limited.
Over the past week, in the broader market, the index gained 474.79 points to close at 25,519.22.
"Sentiments in global markets, movement of rupee against the dollar and crude oil prices will dictate near-term trend in the holiday shortened week ahead", said Vijay Singhania, Founder-Director, Trade Smart Online.
