After two consecutive weeks of declines, Indian equity markets could see some consolidation, with crude oil prices and developments in the US-Iran conflict likely to remain key drivers of market sentiment, analysts said. Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services, said Brent crude prices above $90 a barrel would be closely watched along with geopolitical developments.
Khemka said, “After two weeks of correction in the Nifty, Indian equity markets could consolidate, with marginal recovery expected in the near term. Key monitorables include Brent crude prices, which are anchored above $90/barrel and geopolitical developments,”.
The comments come against the backdrop of the Nifty’s two-week correction, with crude oil prices and geopolitical developments emerging as key factors for investors assessing the direction of Indian equities.
