A volatile week is in the offing for the Indian stock market as movements are expected to be quite listless ahead of expiry of November series derivatives contracts on 29 November 2012.
The week will be a truncated one due to a holiday on Wednesday (28 November) for Guru Nanak Jayanti.
Some key announcements on reforms are likely in the winter session of Parliament, which commenced last Thursday. However, amid uproar over the FDI in retail issue, the Lok Sabha was adjourned without discussing any worthwile issues.
The current session will see the government trying to pass pension and insurance bills, the bill on banking law amendments, and the prevention of money laundering bill, among others.
The developments in the parliament hold the key for the market's near term trend. Investors are likely to tread somewhat cautiously ahead of release of the GDP data for the second quarter on Friday, 30 November.
Besides these, investors will also be tracking global markets for direction. News out of the U.S., especially the government's move to resolve the fiscal cliff, will determine the performance of global markets, in general. Crude oil prices and the rupee's movements against the U.S. dollar are the other factors to watch out for.
The outcome of the eurozone finance ministers' meeting on the Greek debt issue will provide some direction as well.
Friday's strong close on Wall Street, where the major indices Dow Jones Industrial Average and the Nasdaq gained almost 1.5% each amid some encouraging reports from Europe, is expected to aid sentiment when the market opens on Monday. European markets too ended on a firm note on Friday.