The stock indices fell by 10 per cent from their peak in October, but analysts said the current valuation will not bring excitement to the investors considering the rising Omicron cases.
Markets traded under pressure last week following weak global cues and overall investor sentiment remained downbeat throughout the week, several analysts observed.
The Sensex nosedived 1,688 points on Friday amid concerns over the new coronavirus variant that also led to a rout in global markets. During the last week, the BSE benchmark plunged 2,528.86 points or 4.24 per cent.
Many other analysts feel that the equity markets would watch out for global cues in absence of any major event on the domestic front, and indices may face volatility because of the scheduled derivatives expiry this week.
Key events to watch out for this week will be India's PMI data for October and the US Fed meeting which will provide some direction to the market.
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
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