The Sensex and Nifty closed flat on Friday. On the hand, the Dow and the Nasdaq gained around 1.6% each.
June inflation data, corporate results and Presidential elections are the key events this week.
CNBC-TV18's managing editor Udayan Mukherjee says, this week, the focus might well be on what the government does post the Presidential polls and whether that can galvanise some life into the stock market once again.
According to him, the market will hold a range and wait to see what the government can do immediately after the polls.
Also read: June inflation, results to keep market choppy, says experts
Below is the edited transcript of his comments on CNBC-TV18.
It was a quite week, just 1% down on the Nifty. We had a rally in the US markets on Friday. But thats not been picked up by Asian markets or the SGX this morning where things remain curiously quite. So, this week the focus might well be on what the government does post the Presidential polls and whether that can galvanise some life into the stock market once again.
On global markets:
I think the US markets had probably worked themselves out into a bit of a corner. They have had a relief rally from the six-day fall. Asia does not seem particularly impressed, though there is a lot of talk in the market about Chinese easing. China does not seem very impressed by the fact that the market is down about 0.5%.
If you look at Europe, there has not been too much change. The euro is still grinding around 1.22 to the dollar. But the more significant thing, which is happening in the global markets for us now, is that the crude is beginning to strengthen once again from the low of USD 89 barrel a few weeks back. We have now gone up 15% in crude. That is not a small rally. So, we were starting to think that crude is breaking down, will go to USD 75 per barrel and settle there. But without any great rally in other global markets that asset class has moved back once again. And that is probably