Domestic equities started the week on a weak footing, with the Nifty closing 78 points lower at 24,287. Analysts say Indian equities are likely to remain range-bound as the market shifts focus from the concluded Q1FY27 earnings season to global macro and geopolitical developments. The Strait of Hormuz and the trajectory of crude oil prices will remain the key near-term drivers, as conflicting US-Iran positions have clouded prospects of a near-term resolution, raising risks of elevated crude prices. Investors will also track the US Federal Reserve's July meeting minutes this week for cues on the global interest-rate outlook.
STATE OF THE MARKETS
