A dominant factor that has started influencing markets globally is the US presidential elections due in November. Opinion polls indicate that a Trump presidency appears increasingly probable now. The implications of a Trump presidency is higher tariffs on imports into the US, particularly from China. Also, Trump favours a weak dollar. Dollar has already started weakening and the dollar index is now at 103.68. This implies higher gold prices. The positive from the Indian stock market perspective is that expectations of a weakening dollar will increase foreign portfolio inflows, imparting resilience to the market. The market will be influenced by this development and also by Budget expectations. Results of Infosys today will give greater clarity to the movement in IT stocks. Pharma and healthcare stocks are witnessing slow accumulation