New Delhi: Global events will be crucial in deciding the trend for the equity market this week amid rising concerns of trade headwinds, say experts.
Markets are currently reeling under global trade worries and domestic political concerns.
"Q3 results have given some signs of improvement in corporate earnings. The long-term outlook for the domestic market continues to be strong. However, rising concerns of global trade headwinds, domestic NPA issues, and upcoming state elections will keep the market on tenterhooks. US FED policy meet this week is the key event," said Vinod Nair, Head of Research, Geojit Financial Services.
"The FOMC meet, lined up this week, will be important to watch out from the global market's viewpoint," said Vikas Jain - Senior Analyst, Reliance Securities.
SAMCO Securities, Founder & CEO, Jimeet Modi said, "Global headwinds are negative and will decide the direction in the short-term".
Over the last week, the Sensex recorded a fall of 131.14 points, or 0.39 per cent, and the NSE Nifty lost 31.70 points, or 0.30 per cent.
On Friday alone, the benchmark index slumped 509.54 points or 1.51 per cent.
"The fall can largely be attributed to both domestic as well as international factors. Globally, trade war concerns have emerged and markets are worried that it could deteriorate the just improving global growth rate. Domestically, since Telugu Desam Party (TDP) has pulled out of NDA, political uncertainties have resurfaced," said Arun Thukral, MD & CEO, Axis Securities.
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