Ahead of Market: 10 things that will decide stock market action on Monday
U.S. interest rates and declining oil prices. The downturn was primarily driven by a sell-off in pharma, real estate, and auto stocks.
The benchmark BSE Sensex lost 329.92 points or 0.43% to close at 76,190.46, while the broader Nifty 50 index closed at 23,092.20, lower by 113.15 points or 0.49%.
Here's how analysts read the market pulse:
The market is haywire, with sentiment so weak that even results in-line with expectations are triggering selloffs, said Vinod Nair, Head of Research at Geojit Financial Services, adding that while the broader market is under pressure, positively, large-cap stocks are showing some resilience.
“From the taper-tantrum to geopolitical risks, the Indian market has borne numerous challenges in its history. Similarly, the ongoing appreciation of the USD could reverse once market yields flatten out, as the Trump administration is to sustain is slowing. This negative market bias is not expected to persist for long. For long-term investors, this is not the time to sell but rather be patient and adopt an accumulation strategy," Nair added.
US markets
Wall Street's major indexes ended Friday in the red as investors paused to evaluate mixed economic data and earnings reports, gearing up for a week packed with key economic releases and a Federal Reserve meeting.
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