Crude Oil Prices, Yields to Drive Indian Stock Market Next Week

The Indian stock market ended lower for the seventh consecutive week but is expected to take cues from various factors next week. The Sensex rose 315.20 points, or 0.43 per cent, to close at 73,895.74 on Friday, while the Nifty gained 77.40 points, or 0.34 per cent, to settle at 23,140.50.

The market sentiment remained subdued through most of the week, with indices trading in a narrow range during the initial sessions. However, a sharp sell-off on Thursday weighed heavily on investor confidence before value buying in select blue-chip stocks helped the market recover on Friday.

Crude oil prices are expected to remain one of the most important triggers for the equity market next week, with Brent crude continuing to hover above the $100-per-barrel level. Concerns over inflationary pressures, higher import costs and pressure on corporate margins remain elevated.