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US Fed interest rate decision key driver for markets this week: Analysts
Equity markets will be driven by the outcome of the US Federal Reserve's interest rate decision this week, analysts said.
Moreover, equity benchmarks will also continue to be guided by foreign fund movement and trend in Brent crude oil, they added.
"The global markets are looking nervous after the US inflation numbers, which have caused the dollar index to hover around 110," said Santosh Meena, Head of Research, Swastika Investmart Ltd.
Now everyone is eyeing the outcome of the upcoming US Federal Open Market Committee (FOMC) meeting. The Bank of England will also announce its interest rate decision, Meena said.
He further added that institutional flows will play a critical role because foreign investors have turned sellers in the Indian equity market.
"In absence of any major domestic data and events, participants will be closely eyeing the US Fed meet. Besides, the trend of foreign flow would also remain on their radar," Ajit Mishra, VP Research, Religare Broking Ltd, said.
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