Stock markets will be guided by global factors such as the war between Russia and Ukraine, the COVID-19 situation in China and the price of crude oil in the absence of major domestic events this week, analysts said.

Equity markets are expected to maintain their winning momentum this week as FIIs may return aggressively and fuel a further rally in the market, she added.

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“In the absence of a major event, global signals, namely the war between Russia and Ukraine, the COVID situation in China and the trade of crude oil, will remain sharp. In addition, participants will also monitor the FII flow for signals said Ajit Mishra, VP of Research, Religare Broking.

Any news of escalation in the Russia-Ukraine battle and worsening of China’s COVID situation could dent sentiment again, he added.

“Our markets are in much better shape compared to most emerging markets and we have witnessed a strong rally from lower levels, therefore there may be a feeling that FIIs are missing something and they may come back aggressively to the Indian markets further rally in our market,” said Santosh Meena, head of research, Swastika Investmart Ltd.

The market has already anticipated that the Russia-Ukraine issue will end soon, but news flows related to the issue may continue to cause some volatility in the market, he added.

Last week, the BSE benchmark Sensex rose 2,313.63 points or 4.16 percent in a short holiday week.

Stock markets were closed on Friday due to Holi.

“As no major domestic event is planned, Indian markets will be led by their global counterparts this week. The situation in Russia-Ukraine will be closely monitored.

“Because crude oil plays such a critical role in determining the fate of Indian macros, crude oil price movements will also be closely monitored,” said Yesha Shah, head of Equity Research, Samco Securities.

Kotak Mahindra Life Insurance Co Ltd, Head Equity, Hemant Kanawala, said: “We expect markets to remain in a consolidation phase in the near term as investors assess global developments and the upcoming domestic earnings season.”

This post Russia-Ukraine Crisis, Covid Situation in China Key Drivers for Markets This Week: Analysts

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