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India market seen range-bound until US-Iran conflict eases
The outlook is tied to concerns that higher crude prices could lift inflation and keep central banks, including the Federal Reserve, on an aggressive path.
LiveMint Markets cited an outlook from SEBI-registered independent market expert Ambareesh Baliga, who said the domestic Indian market is likely to stay range-bound while the US-Iran conflict remains unresolved.
The report linked the cautious stance to elevated crude oil prices, noting that oil has been higher for most of the year and could worsen India’s growth-inflation dynamics by raising the risk of an inflation flare-up and more aggressive monetary tightening by global central banks.
It also pointed to Fed policy, saying the Federal Reserve raised rates by 25 basis points at its September meeting and that markets expect at least one more hike this year, with US bond yields rising and adding pressure to equities.
Despite the broader uncertainty, the piece said stock-specific opportunities remain, naming Himadri Speciality and Borosil Renewables among five fundamental picks mentioned by Baliga for the short term.
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