New Delhi: Domestic stock markets this week will be driven by a range of factors including renewed concerns over global trade war, movement in crude oil prices, progress of monsoon, according to experts.
Trading sentiments are likely to take a hit in the wake of fresh tariffs imposed by the US on Chinese imports.
“Going ahead the markets would weigh the concerns coming from possible trade war between the US and China," Teena Virmani, vice president (research) at Kotak Securities Ltd, said.
Also, the experts are of the view that Indian stocks are now entering a dull phase since most key events like earnings season, macroeconomic data and RBI policy announcements are over.
“Domestic fundamentals will take a backseat for now since we have seen earnings season, monsoon projections and recent GDP and RBI policy. We believe all eyes will be on global developments, the return of trade war with US signing another $50 billion tariffs, crude oil and USD/INR," Epic Research CEO Mustafa Nadeem said.
Investors will continue to track fluctuations in crude oil prices as well as developments on progress of the monsoon, Hem Securities director Gaurav Jain said.
“... escalation of trade tensions is likely to impact the near term market sentiments. Market will closely follow OPEC and Russia meeting this week, to decide on relaxation of supply cuts," said Vinod Nair, head of research, Geojit Financial Services.
Over the last week, the BSE Sensex advanced 178.47 points, or 0.50%, to close at 35,622.14.