Dalal Street Seeks Recovery Amid Crude Price Volatility and Geopolitical Tensions
After two weeks of declines, Dalal Street may see some consolidation this week, with crude oil prices and developments in the US-Iran conflict likely to remain key drivers of market sentiment.
Brent crude prices, currently above $90 a barrel, will be closely watched by investors, along with geopolitical developments, according to Siddhartha Khemka, head of research at Motilal Oswal Financial Services Ltd.
'After two weeks of correction in the Nifty, Indian equity markets could consolidate, with marginal recovery expected in the near term. Key monitorables include Brent crude prices, which are anchored above $90/barrel and geopolitical developments,' Khemka said.
The global market focus will also be on the US Federal Reserve's policy outlook, particularly remarks by the Fed chairman at the Jackson Hole symposium, for indications about the direction of interest rates.