Forex
Fed Decision, Crude Oil Prices Set to Drive Indian Stock Market Next Week
The Indian stock market is set to be driven by key global cues in the coming week, including the US Federal Reserve's interest rate decision and crude oil prices.
Indian markets will remain closed on Monday for Ganesh Chaturthi, giving investors their first opportunity on Tuesday to react to movements in global markets, crude oil, and bond yields.
The Nifty ended Friday at 23,398.10, declining 79.70 points, or 0.34 per cent, while the Sensex closed at 74,781.76, down 120.83 points, or 0.16 per cent.
The US Federal Reserve's rate decision and FOMC Economic Projections will be the biggest global trigger for markets during the week, with markets pricing in a high probability of a 25-basis-point rate hike following the latest inflation data.