Market Set for Range-Bound Trading Amid Global Uncertainty

The Indian stock market is expected to remain range-bound next week as global cues and macro developments take center stage. The Strait of Hormuz crisis and its impact on oil prices will be closely watched, with investors looking for any signs of escalation or de-escalation in tensions. Oil prices have been a significant concern for the market, with Brent crude reaching $69 per barrel last week.

The Federal Reserve's FOMC minutes will also be scrutinized by investors, who are looking for clues on the future direction of monetary policy. Additionally, US weekly jobs data and Chinese economic releases will provide important insights into the global economy. The flash PMIs will offer a snapshot of manufacturing activity in major economies.

Indian equities have been volatile in recent weeks, with the Nifty 50 falling 0.83 percent last week to close at 24,366. Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services, noted that Indian equities are likely to remain range-bound next week as global cues and macro developments assume greater importance.