Stock Market Prediction: Movement in the stock market will hinge on the outcome of talks between the US and Iran, crude oil prices and trading activity of foreign investors in the holiday-shortened week ahead, PTI reported quoting analysts.
Technical-level talks will be held in Burgenstock, Switzerland, on Sunday between the US and Iran. US Vice President JD Vance was initially supposed to hold a first round of talks with senior Iranian officials on Friday at a mountainside resort in the tiny Swiss village of Obburgen, but his Iranian counterparts cancelled their plans to attend because of escalating fighting between Israel and Iranian-backed Hezbollah in Lebanon.
Stock markets would remain closed on Friday for Muharram.
Markets would also track the monsoon trajectory in the country, an analyst said.
“Looking ahead, a wait-and-watch stance is likely to prevail even as the underlying bias turns incrementally positive. India appears to be gradually moving past two major headwinds, tariff-related uncertainty and geopolitical tensions, which should support valuation recovery after an extended period of consolidation…,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
Indian equity markets extended their recovery during the week, supported by easing geopolitical concerns, softer crude oil prices, and improving global risk sentiment, according to an expert.
Stock Market on Friday
The bull rally in the Indian stock market lost steam as the benchmark indices – Sensex and Nifty – slipped into the deep red territory on Friday, June 19, snapping the five-day winning streak, as heavy selling in IT stocks after global tech giant Accenture trimmed its full-year revenue growth guidance, weak global cues and other factors kept key investors on edge. Renewed geopolitical uncertainty over the postponement of talks to finalise the US-Iran peace deal in Switzerland also dampened investor sentiment.
The 30-share BSE Sensex dropped 607.08 points, or 0.78 per cent, to settle at 76,802.90. During the day, it tanked 940.26 points, or 1.21 per cent, to 76,469.72.
The Sensex had jumped 3,577.43 points, or 4.84 per cent, in the last five trading sessions, and the Nifty climbed 1,006.4 points, or 4.34 per cent. (With Agency Inputs)
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