Crude Oil, Geopolitics, Inflation Data to Guide Stock Market This Week
The Indian stock market is expected to be influenced by several factors this week, including crude oil prices, West Asia tensions, and upcoming inflation data. Investors will also track developments surrounding the Strait of Hormuz, foreign investor flows, and quarterly earnings. Additionally, the release of CPI and WPI data on August 12 and 14 respectively will provide valuable insights into inflation trends.
Ajit Mishra, SVP at Religare Broking Ltd, noted that domestically, investors will closely monitor the July CPI inflation print, WPI inflation, and foreign exchange reserves data for fresh insights. Globally, market participants will continue to monitor developments surrounding the Strait of Hormuz, movements in crude oil prices, and broader geopolitical negotiations involving Iran.
Foreign Portfolio Investors (FPIs) maintained their buying spree in Indian equities, investing Rs 12,921 crore in the first week of August. The BSE benchmark Sensex climbed 404.53 points, or 0.51 per cent, while the NSE Nifty went up by 187.05 points, or 0.76 per cent last week.