Profit taking and concerns about near term economic outlook dragged down stocks on the Indian bourses last week. And the mood is not likely to be any significantly different next week as well, as investors will mostly be looking for strong triggers to indulge in any big buying.
Automobile and cement stocks will remain in focus, and sales and shipments data from leaging players in these segments will provide some direction. Metal stocks will track January production data.
Besides these numbers, quarterly results from leading companies, including ACC, Sun Pharmaceutical Industries, Mahindra & Mahindra, Hindalco, Bank of Baroda, Cipla and Ambuja Cements, will also set the tone for the market.
On Tuesday, Markit Economics will release HSBC India Services PMI for the month of December 2012.
The market is likely to open on a fairly steady note on Monday, tracking cues from Wall Street. On Friday, Wall Street ended with strong gains, with the Dow Jones Industrial Average and the Nasdaq jumping by 1.1% and 1.2%, respectively, following a positive reaction to some upbeat economic data. European markets too mostly ended with impressive gains on Friday.