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Crude oil, West Asia tension to guide stock market this week
Analysts say crude oil prices, West Asia tensions and inflation data will decide stock market direction this week, telanganatoday.com reports. Investors will track developments in the Strait of Hormuz, US-Iran talks, foreign…
The Story in Brief
Analysts say crude oil prices, West Asia tensions and inflation data will decide stock market direction this week, telanganatoday.com reports. Investors will track developments in the Strait of Hormuz, US-Iran talks, foreign investor flows and quarterly earnings from HAL, Tata Motors and others. India's CPI inflation is due on August 12 and WPI on August 14. The US will release its July CPI and PPI data. Foreign portfolio investors (FPIs) have already poured Rs 12,921 crore into Indian equities in the first week of August. Last week, the Sensex rose 0.51 per cent and the Nifty gained 0.76 per cent.
The Indian Opinion
The pundits keep telling us markets will be driven by headlines, but they never say which way. The real test is not the noise from West Asia or the Strait of Hormuz, but the actual inflation numbers and company earnings due this week. If crude stays above $85 a barrel and FPIs turn sellers, the modest gains of last week will vanish. Will the July CPI print force the RBI to rethink its stance, or will the record dividend from May still cushion the fall?
Sources (2): millenniumpost.in, telanganatoday.com
This story was synthesised by AI from the 2 sources linked above.
