It was a truncated week, in which we saw only three days of trading. But, it was a spectacular week with the Sensex jumping in excess of 600 points in just three days.
Global markets were also buoyant after Chinese data showed that exports were much better than expectations.
Tractor and stocks closely associated with the Monsoon were in the limelight this week with stocks like Swaraj Engines and Mahindra and Mahindra rallying strongly. In fact, Mahindra and Mahindra rallied as much as 7 per cent on Friday. The trend is likely to continue.
Markets next week may continue to remain buoyant, given the strong set of quarterly numbers posted by Infosys.
The company reported numbers that beat estimates on every count including margins, revenues and net profits.
This could lead to a rally in the stock and hence the benchmark indices. The forecast of normal monsoons could continue to lead to stocks specific activity.
Much of the markets in the next few months would rely on the Monsoon to boost demand and reduce inputs costs for many companies like Britannia, HUL, Dabur etc.
The results season would also be closely watched by the market next week. A number of companies would also declare dividends. Individual stocks would react closely to their results.
One would also have to watch for global cues. Benchmark indices have rallied across the globe as risk-on trade is back. In the absence of any key data, global markets may continue to remain buoyant, leading to an upsurge in Indian stocks.