Market Outlook: Crude oil, peace talks and data will decide market movement!

The next week will be very important for the Indian stock market. During this period, the direction of the stock market will be decided by crude oil, US-Iran peace talks and domestic economic data like infrastructure output, PMI and Forex data.

Investors will keep an eye on crude oil prices next week. After the signing of the MoU for US-Iran peace talks, there has been a decline in crude oil and currently it has reached around $ 80 per barrel. However, according to reports, Iran has again announced the closure of the Strait of Hormuz due to Israel’s continued attacks on Lebanon, which has further increased instability.

Along with this, investors will be keeping an eye on the US-Iran peace talks next week and any update related to this can affect the direction of the market.

Domestic economic data will also play an important role in determining the market trend next week. Infrastructure output data will be released by the Commerce Ministry on June 22. PMI data will be released on June 23 and foreign exchange reserves data on June 26.

Last week was profitable for the Indian stock market. During this period, Sensex was at 76,802.90 with a gain of 1,274.95 points or 1.69 percent and Nifty was at 24,013.10 with a gain of 390.20 points or 1.65 percent.

In the session of June 15 to 19, both midcap and smallcap witnessed a rise. The Nifty Midcap 100 index was at 62,517.30, up 1,749.20 points or 2.88 per cent and the Nifty Smallcap 100 index was at 18,784.45, up 587 points or 3.23 per cent.

Among the indices, Nifty India Defense (6.58 per cent), Nifty Consumer Durables (6.44 per cent), Nifty Realty (5.50 per cent), Nifty Consumption (3.50 per cent), Nifty Energy (3.32 per cent), Nifty Infra (2.98 per cent) and Nifty PSE (2.84 per cent) closed with gains. During this period, only Nifty IT closed with a weakness of (1.33 percent).