Crude oil, US-Iran, Fed minutes: 5 triggers for Indian stock market

Livemint reports that Indian stock market will be driven this week by crude oil prices, the US-Iran standoff, and Federal Reserve minutes. The benchmark indices closed lower last week, with the Sensex falling 0.62% to 78,009.25 and the Nifty declining 0.83% to 24,366.

Ponmudi R of Enrich Money said investors will focus on the Strait of Hormuz and the broader US-Iran standoff. Brent crude settled at $88.52 a barrel, while WTI ended at $82.40. Foreign institutional investors turned net buyers on August 14, purchasing shares worth Rs 508 crore net, though monthly FII selling has been heavy at Rs 3.37 lakh crore.

The Federal Open Market Committee will release minutes of its July 28-29 meeting on August 19. The meeting revealed a 9-3 vote to hold rates. Analysts expect the data-light week to be dominated by geopolitical developments and crude oil trajectory.