Oil prices & inflation data to drive mkts this week, say analysts

New Delhi: The talks between Iran and the US in Pakistan, which ended without a deal, would weigh heavily on investors’ sentiment when markets open for trading on Monday, analysts said.

Besides developments related to West Asia, crude oil prices would also dictate market trends in a holiday-shortened week ahead, they said.

Stock markets will remain closed on Tuesday for Baba Saheb Ambedkar Jayanti.

The talks between Iran and the US in Pakistan have ended without a deal due to “excessive demands” made by the American side, a top Iranian official said on Sunday. Iranian Foreign Ministry spokesperson Esmaeil Baqaei, however, emphasised that “diplomacy never ends”.

Markets had rallied last week following the US-Iran ceasefire and a sharp decline in crude oil prices, which dropped below the $100 mark. Stock markets would also track inflation data announcements, Q4 earnings and trading activity of foreign investors

this week.