Besides the election results of politically-important state, the last leg of quarterly earnings will have a bearing on stock-specific trading during the Diwali-shortened week, as per the analysts.
Victory of Nitish Kumar-led Grand Alliance, comprising of JD9U), RJD and Congress, in Bihar is expected to have a bearing on the economic reform agenda of the BJP-led NDA government at the Centre as well as it does not have majority in the upper house of the Parliament.
Stock markets would remain closed on Wednesday and Thursday for Diwali Laxmi pujan and Diwali Balipratipada, except for a one-hour Muhurat trading on Wednesday evening.
CapitalVia Global Research's Vivek Gupta said, "Outcome of Bihar election, macroeconomic data, trend in global markets, investment by foreign investors, movement of the rupee against the dollar, CPI and IIP to be announced on November 12 and upcoming quarterly results will dictate the trend of the market in the near term."
Companies like Tata Power, REC, HPCL, Coal India and Hindalco will declare their quarterly results this week.