It is an important week for the market, not just because of expiry but because of the slew of policy announcements expected from New Delhi and the Reserve Bank of India (RBI) which could set the tone for market expectations. So expect a heavy news flow week as we head into the June expiry on Thursday, says CNBC-TV18s managing editor Udayan Mukherjee.
Earlier expectations were that eurozone policies will hold the key for a global risk on rally, but given that expectations have been raised by the Prime Minister himself, all market participants will be looking that way to provide some kind of triggers for the index.
There may be action on the currency front as well because the rupee closed at 57 plus last week. The government and the RBI Governor all seem to be sitting up now and taking notice of how swiftly the rupee has taken out 57. So we may hear some announcement first the RBI and then may be even the FM that might provide some kind of trigger for the market, at least in the