Reuters Market Eye - December quarter earnings and WPI inflation will be the key for Indian shares in the short term.
MCX-SX stock exchange launches equities trading. Volumes will be watched given its history of competition with the National Stock Exchange.
Dealers say any headline inflation reading of 7 percent or lower may lead to gains in shares on hopes of a March rate cut.
Also on watch, domestic institutional outflows where pace of selling has accelerated in 2013, relative to inflows from foreign investors.
KEY EVENTS/FACTORS TO WATCH
Saturday: Finance Minister P. Chidambaram, SEBI Chairman U.K.Sinha at the launch of MCX-SX stock exchange.
Monday: Earnings of Oil and Natural Gas Corp (ONGC.NS), Tata Power Co (TTPW.NS)
Tuesday: December IIP, January CPI, earnings of Hindustan Petroleum Corp (HPCL.NS), SAIL (SAIL.NS)
Wednesday: Bharat Petroleum Corp (BPCL.NS), Tata Steel (TISC.NS) earnings
Thursday: January WPI inflation, earnings of Dr.Reddy's Laboratories (REDY.NS), Tata Motors (TAMO.NS), State Bank of India, GAIL India (GAIL.NS), DLF (DLF.NS)
(Reporting by Abhishek Vishnoi)
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What seemed like a possibility for the Nifty to cross the 8,000 mark just two weeks ago has now turned out to be a far-fetched dream. A 7,950-8,000 range could be used to book partial profits and re-enter closer to 7,750-7,800 for the next couple of weeks. The next big trigger would be the arrival of monsoons, writes Ambareesh Baliga. Read