Stock markets are expected to be driven by quarterly earnings of information technology frontline companies, developments related to loan moratorium and global trends this week, analysts said.
News related to coronavirus cases and the U.S. presidential election would be closely tracked by investors, they said.
The Sensex advanced 3.49%, or 1,308.39 points, last week on the back of 'Unlock 5.0' guidelines, positive macroeconomic data and renewed hopes of U.S. stimulus measures. Domestic markets were closed on Friday on account of 'Gandhi Jayanti'.
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"Going ahead, the market's focus will shift to earnings, especially from the IT frontline companies," said Sanjeev Zarbade, vice president – PCG Research at Kotak Securities.
Ajit Mishra, vice president (research) at Religare Broking Ltd., said this week marks the beginning of earnings season and among the top names, Tata Consultancy Services Ltd. is scheduled to announce its number on Oct. 7. "Besides, news related to Covid-19 and updates on the U.S. presidential election will also be closely tracked."
U.S. President Donald Trump said on Friday that he and first lady Melania Trump have tested positive for the coronavirus, a development that is likely to affect his hectic election campaign just weeks before the presidential polls.
"The market is expected to be guided by announcement of stimulus measures by the U.S. and outcome of the Supreme Court moratorium hearing," Vinod Nair, head of research at Geojit Financial Services, said.
The Supreme Court on Monday will hear the plea on interest waiver during moratorium.
Analysts said PMI data for the services sector, movement in the rupee and Brent crude oil would also be keenly watched by participants.
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