New Delhi, Mar 15: Developments surrounding the ongoing conflict in West Asia and crude oil price movement will be the major factors driving trends in the equity market this week, analysts said.
Besides global trends, the US Fed interest rate decision and inflation data would also influence trading in markets, they added.
“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 FOMC (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.
Indian equity markets ended the week under significant corrective pressure as global risk sentiment deteriorated amid rising crude oil prices, escalating geopolitical tensions in West Asia, and persistent selling by foreign institutional investors, Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.
Since February 27, the 30-share BSE benchmark has nosedived 6,723.27 points or 8.27 per cent.
