The BSE Sensex and Nifty are expected to remain range bound next week as investors await clarity on monsoon and upcoming budget before taking fresh positions amid Iraq conflict led risk aversion.
Stocks linked to monsoon driven rural sectors such as Mahindra and Mahindra
The monsoon has covered half of India's landmass four days behind the usual schedule, failing to recover from a late start that has slowed sowing of summer crops in a country where half of the farmland still lacks irrigation.
Oil held near $115 a barrel on Friday, close to a nine-month high, and was headed for its second weekly gain on increased risks of disruption to supply from Iraq.
News flow on gas pricing and power sector reforms would also be on watch.
(abhishek.vishnoi@thomsonreuters.com / abhishek.vishnoi.thomsonreuters.com@reuters.net)
