India's Equities Bracing for Volatile Week Amid Fed Minutes and Oil Price Uncertainty
India's equities are bracing for another volatile week as investors await key global triggers. The US Federal Reserve's meeting minutes, due on August 19, will be closely watched for clues on future interest rates. At the July 28-29 meeting, policymakers voted 9-3 to keep the federal funds rate unchanged at 3.50-3.75 percent.
The recent US-Iran conflict is another major risk factor, with Iran's Deputy Foreign Minister Kazem Gharibabadi reiterating that the Strait of Hormuz remains under Iranian control. Crude prices will also remain a focus, having climbed over $1 a barrel on Friday due to tanker attacks and limited progress towards a peace agreement.
Foreign institutional investors turned net buyers on August 14, purchasing shares worth Rs 12,854.44 crore and selling Rs 12,346.32 crore, resulting in net buying of Rs 508.12 crore. Domestic institutions also remained buyers, recording purchases of Rs 14,295.49 crore against sales of Rs 13,939.09 crore.