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  Business   Market  26 Jun 2017  Stocks to remain volatile this week as GST rollout nears

Stocks to remain volatile this week as GST rollout nears

Published : Jun 26, 2017, 2:44 pm IST
Updated : Jun 26, 2017, 2:44 pm IST

GST rollout and Prime Minister's US visit will be steering markets this week, say experts.

Representational Image.
 Representational Image.

New Delhi:  Stocks may turn volatile this week amid derivatives expiry and will be steered by the countdown to the all-new GST kicking off on July 1, say analysts.

Markets are closed today for Id-Ul-Fitr (Ramzan Id). "The PM's US visit, GST rollout and derivative expiry will dominate the market trend in a truncated trading session this week," said Vijay Singhania, founder-Director, Trade Smart Online.

There is a bit of nervousness with the scheduled rollout of the landmark tax reform Goods and Services Tax (GST), he added.

Other factors that will continue to play on market sentiment include progress of monsoon, global macroeconomic data, movement of the rupee against the dollar and crude oil price, he said.

"The most important event will be the meeting of Prime Minister Modi with US President Trump. Markets will have its eyes glued on what kind of chemistry develops between the two leaders," said V K Sharma, Head, Private Client Group (PCG), HDFC Securities.

Over the last week, the Sensex gained 81.81 points, or 0.26 per cent, while the Nifty shed 13.10 points, or 0.13 per cent. "This week futures and options (F&O) expiry is due. So, we are expecting market to remain traded in a volatile zone," said Abnish Kumar Sudhanshu, Director and Research Head, Amrapali Aadya Trading and Investments.

Once GST turns into reality, indices will take cues from the same, he pointed out.

Tags: gst, gst rollout, global indices, nse, bse, stock market, modi, us, market sentiment, f&o
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