New Delhi: Developments surrounding the conflict in West Asia and crude oil price movement will be the major factors driving trends in the equity market this week, analysts said.
“This week is packed with several important developments and data releases, both domestically and globally. Geopolitical developments will remain the key factor to watch, as their impact on crude oil prices is likely to influence overall market
direction.
“On the domestic front, market participants will closely track key macroeconomic indicators, such as WPI inflation, balance of trade data and foreign exchange reserves,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
Globally, investors will focus on the US Federal Reserve’s interest rate decision and the Federal Open Market Committee economic projections, he added.
Last week, the BSE benchmark Sensex tanked 4,354.98 points or 5.51 per cent, and the NSE Nifty dropped 1,299.35 points, or 5.31 per cent.