Domestic equities extended losses for the second consecutive session, with the Nifty declining 0.2% to close at 24,193, pressured by weakness in index heavyweights and higher crude oil prices. Analysts say equities are expected to remain range-bound amid continued geopolitical tensions in West Asia, Brent crude oil prices near $90/bbl, weak rupee, persistent Foreign Institutional Investor (FII) selling and mixed global cues. While the ongoing Q1 season is expected to drive stock-specific action, investor sentiment will continue to be influenced by developments in West Asia and the trajectory of crude oil prices.
STATE OF THE MARKETS
