Geopolitical developments, crude oil likely to steer stock market this week

Investors will focus on geopolitical developments, crude oil prices, bond yields and macroeconomic data announcements to determine market trends during the holiday-shortened week ahead, analysts said. According to experts, the US-Iran diplomatic talks and crude oil prices will drive global market sentiment. Moreover, the market is likely to remain cautious as crude oil prices, geopolitical developments and global bond yields continue to influence near-term direction, they said. Equity markets would remain closed on Friday for Mahatma Gandhi Jayanti. "Globally, developments around US-Iran diplomacy and crude oil prices will remain critical. Any progress on a framework for reopening the Strait of Hormuz could ease energy prices and provide some relief to India's import bill and the rupee, while renewed geopolitical tensions could keep volatility elevated," Ajit Mishra, SVP Research, Religare Broking, said. On the domestic front, industrial production data for August and the HSBC ..