Auto companies stocks will be in spotlight as auto conglomerates will start announcing monthly sales numbers for February starting from 1 March 2021.
Besides, internationally, trends in global stock markets, the movement of rupee against the dollar and crude oil prices will dictate trend on the stock exchanges in the near term. Investment by overseas investors or FPIs and domestic institutional investors will be monitored.
The coronavirus situation in various states, some of which are seeing a spike in infections, will also be a factor.
After multiple rallies since the Union Budget presentation on February 1, the stock market closed in the red in the week gone by. The benchmark indices -- Nifty-50 & BSE Sensex -- slumped over 3% during the week, and on Friday, the 30- share BSE Sensex crashed about 1,940 points to post its biggest single-day fall in nearly ten months. The domestic equity market witnessed a massive selloff amid a global correction led by a sharp spike in global bond yields along with a sudden increase in COVID-19 cases in a few Indian states.
In the immediate future, Indian markets could also bear the brunt of global correction but as time goes it could recoup and standout," Rusmik Oza, Executive Vice President and Head of Fundamental Research at Kotak Securities, said.
FPIs net buyers for second month, put Rs 23,663-Cr in February
