Indian equity, forex, money and commodity markets
will remain closed on Tuesday on account of Maharashtra Day.
On Monday, benchmark indices hit a near three-month high on Monday, in tandem with global markets, as technology shares gained during the day. The S&P BSE Sensex ended at 35,160, up 191 points while the broader Nifty50 index settled at 10,739, up 47 points.
IT stocks rose, with the Nifty IT index gaining as much as 1.4% aided by the recent weakness in the rupee.
Gains were, however, capped as index heavyweight Reliance Industries lost 3.3% to Rs 963.50 on the NSE, its biggest percentage loss since February 2, after result from the oil-to-retail conglomerate’s telecoms arm Jio failed to cheer investors.
Going ahead, corporate earnings, economic data and global cues will decide the market trend during the week.
In key economic data, markets
will keep a tab on Nikkei Manufacturing PMI for April 2018 due Wednesday and the result of a monthly survey on the performance of India's services sector in April 2018 on Friday.
On the global front, US Federal Reserve's Federal Open Market Committee (FOMC) will announce the decision on the interest rate on Wednesday. It is widely expected that the central bank will keep rates unchanged in May 2018, but will raise them again in June 2018.