Decision on the Fed rate, commercial scenario to establish the market trend: analysts
New Delhi, June 16 () Indian actions this week will be guided by factors such as geopolitical developments, trade negotiations between the United States and China and the decision on the interest rate of the Fed amid the lack of important detonators local, analysts say.
Investors will also keep track of the domestic trade situation following reports indicating that India has decided to impose retaliatory tariffs on 29 US products. UU As of June 16.
On June 21, 2018, the government decided to impose these rights in retaliation for the United States' decision to significantly increase customs duties on certain steel and aluminum products. India had extended the period for the imposition of duties several times in the hope that a solution would emerge.
The markets are currently dancing with the global melodies and we do not see this change in the short term, in the absence of an important local trigger, said Jayant Manglik, President of Retail Distribution, Intermedio de Religare.
Vinod Nair, head of research at Geojit Financial Services, said: The wave effect of a weak global market while the valuation of premiums and the slow economy are hurting the market. Continuous exchange of words between the US UU And Tehran on the tanker attack, the progress of EE. UU China's trade war, the result of the Fed's policy on June 19 and the monsoon's progress will be followed closely by investors.
Global markets were scared last week after two oil companies were attacked in the Gulf of Oman, which caused an increase in tensions in the Middle East.
Crude oil prices, the movement of the rupee against the dollar and the investment trend of foreign funds would be crucial for the markets, the experts added.
The negative flow of news from the financial sector about the repayment of loans is holding back investor confidence, which may be a trigger for further correction before the budget session, said Romesh Tiwari, Head of Research, CapitalAim.
BSE Sensex remained in the back for the third consecutive session on Friday when investors reduced equity exposure amid high valuations and a new wave of uncertainty in global markets.
The markets suffered a sudden sale towards the end of the tangle after reports that India decided to impose retaliatory tariffs on 29 US products. During the last week, the Sensex fell 163.83 points or 0.41 percent, to close at 39,452.07. SUM ABM ABM