The market direction will be guided by corporate earnings, especially the oil & gas companies, since they were responsible for earnings disappointment in the past quarter as well.
The past decade saw three full cycles of markets moving up and then going into bear phases.
It won't be an easy ride for the markets, reckon experts, considering the multiple state elections in 2018 and general elections next year.
Sharp swings likely in equity, forex and bond markets.
Over the past four quarters, the Sensex companies' earnings trajectory has improved sharply because of a weak rupee.
Foreign investors are betting top dollar on the country as growth is likely to recover at a time when other emerging markets are battling macroeconomic adjustments.
There are a few factors that can spoil the party
Analysts mostly prefer domestic plays beside select films with foreign exposure.
The derivatives expiry on Thursday is also expected to add to the volatility.
India has more service companies, such as IT and healthcaresectors, which always trade at a premium to the overall market.
Offloading shares in ONGC, CIL, NHPC may fetch govt more than the year's target.
This route accounts for Rs 2.75 lakh crore of FPI holdings.
Higher growth, reform bets have boosted returns but leave limited room for error.
The referendum will have long-term implications for Indian companies, which earn a substantial portion of revenue from the region.
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