Heightened tensions between the United States and Iran, Chinese President Xi Jinping's meeting with the US President Donald Trump at the G-20 summit would be the key events driving markets this week.
Heightened tensions between the United States and Iran, Chinese President Xi Jinping's meeting with the US President Donald Trump at the G-20 summit, expiry of June series Futures and Options (F&O) contracts, and May fiscal deficit data would be the key events driving markets this week.
The US on Saturday decided to impose further sanctions on Iran after the Gulf country shot down the former’s military drone last week.
Back home, the sudden resignation of the Reserve Bank of India (RBI) Deputy Governor Viral Acharya before the scheduled end of his term is likely to be on the investors' radar.
Additionally, India’s infrastructure output print, progress in monsoon, foreign fund flow, crude oil prices and rupee movement against the dollar could steer indices.
On Friday, the benchmark S&P BSE Sensex crashed 407 points to 39,194 while the broader Nifty50 index settled 108 points lower at 11,724.
The rupee fell 14 paise to settle at 69.57 against the US dollar.
Global cues
Asian shares were trading lower during the early morning trade on Monday. Japan’s Nikkei was trading 0.2 per cent lower while South Korea’s Kospi was down 0.06 per cent.
On Wall Street, the indices slipped during the overnight trade on Friday. The Dow Jones Industrial Average settled 34 points lower at 26,719 while the S&P500 closed 4 points lower at 2,950. The Nasdaq shed 20 points to end at 8,032.
In the commodities market, oil prices climbed on Monday as tensions remain high between Iran and the US. Brent futures were up 0.6 per cent at $65.57 a barrel by 6:15 am.
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