Exhaustion seems to have got the better of the bulls and neither effort nor reward seems to be on the anvil. Stock indices continue to languish after a brief spurt post the Budget. The scenario is no different in global markets, though the US and Europe have held up well in the face of a few significant headwinds.
Emerging markets like India and China have actually under-performed in the past few sessions. It remains to be seen when this trend changes. For now though, it looks like the market will remain in a state of flux for a while before there is any meaningful movement.
At the cost of being repetitive, we expect yet another dull opening and perhaps another trigger-hunting day. Advance tax numbers might lead to some shift in the undertone, though it will not make a big difference. Monthly inflation numbers will be another factor to watch out for. Fed policymakers will meet on Tuesday for a monthly review. All eyes and ears will be glued for the latest cues from the US central bankers.
