According to analysts, domestic equities will be mainly driven by global market trends, foreign institutional investors’ movement and developments around the new COVID strain spread.
Earlier, the US market suffered a significant drop following the Omicron variant’s spread causing tension among other market investors.
“Global markets, Omicron variant, dollar index and FIIs’ behaviour will be key factors to drive the market this week,” said Santosh Meena, Head of Research, Swastika Investmart Ltd as cited by PTI.
Participants are keeping a close watch on the COVID-19 situation due to the new variant and related updates will continue to induce volatility in days to come,” Mishra said.
As global macros are expected to dominate, investors should keep an eye on FII activity to assess trends and stick to a stock-centric investing strategy in the midst of range-bound index moves,” Shah said as cited by PTI.