New Delhi, Aug 15 (PTI) With corporate earnings season largely over, equity investors would focus on global trends for further direction in a holiday-shortened week ahead, analysts said.

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Equity markets would remain closed on Thursday for Muharram.

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"The majority of India Inc's first-quarter earnings were stronger-than-expected and in the absence of a major event, global cues are expected to guide the market direction," said Nirali Shah, Head of Equity Research, Samco Securities.

Santosh Meena, Head of Research, Swastika Investmart Ltd said that on the domestic front, WPI numbers will be released on Monday.

"Our market will also have an eye on the behaviour of FIIs and the dollar index," Meena added.

"With positive economic data pointing towards economic recovery, the market is expected to remain bullish in the long term while the possibility of a short correction in the near term cannot be ruled out," said Vinod Nair, Head of Research at Geojit Financial Services.

During the last week, the 30-share BSE benchmark jumped 1,159.57 points or 2.13 per cent. On Friday, the benchmark reached its lifetime high of 55,487.79, crossing the 55,000-mark for the first time.

"Equity market is likely to continue with its strong positive momentum as the economic activities are expected to further pick up pace with the lockdown measures getting relaxed. The result season is now largely over with corporate earnings being in line to better-than-expectations," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services said.

Apart from rupee-dollar trend and foreign institutional investors' movement, Brent crude would also be watched by investors.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)