The Indian stock market has been rising but may lose momentum soon. Broking firm ICICI Direct said, “Though the market has been moving up it seems to be running out of steam as the indices are still moving within a strong range.” The firm added that from a valuation and risk perspective, the market looks "slightly vulnerable" and "is likely to see some downward correction in the short-term." Despite gains, India has underperformed global peers like China, which saw a 19% rise in the same period. Avinash Gupta of Bonanza Portfolio said, "Investors are cautious and the market is likely to see a side-way trading this week." Analysts predict that on Monday, the market might open negative due to weak global cues but could recover later with fund inflows. Alex Mathews, research head at Geojit BNP Paribas, said, "Tracking the weak US and European markets, Dalal Street may open with a negative bias on Monday. However, FIIs are still bullish about the India growth story and a sustained inflow will help the market to bounce-back." Foreign Institutional Investors (FIIs) added a net Rs 5,590 crore to Indian stocks last week. So far in 2010, FIIs have pumped in Rs 51,185 crore, according to SEBI data. Mr. Mathews noted, "Global parameters will be important to decide the direction of the domestic markets." Domestically, faster monsoon progress is key for market sentiment. The upcoming Index of Industrial Production (IIP) numbers for June will also be closely watched. Last week, the market recovered with the Sensex rising about 276 points or 1.5% to close at 18,143.99 as FIIs bought aggressively. In global markets, Wall Street closed lower on sluggish jobs data and weak July retail sales figures, with the Dow Jones down 0.20% and the S&P 500 ending 0.37% lower.