Explore Business Standard
Stock Markets
Stock markets are likely to be guided this week by the outcome of state elections and high crude oil prices amid the West Asia conflict, say analysts. The developments related to the West Asia conflict and the Strait of Hormuz will also be tracked by investors, they said. Counting of votes for the five assembly elections in West Bengal, Tamil Nadu, Kerala, Assam, and Puducherry will begin on Monday, May 4. "The most immediate catalyst will be the outcome of key state elections, with investors closely watching whether the ruling party at the Centre can wrest West Bengal from Trinamool Congress and make meaningful inroads into opposition-ruled Kerala and Tamil Nadu, where the Bharatiya Janata Party (BJP) currently has a limited presence," Hariprasad K, Research Analyst and Founder, Livelong Wealth, said. Crude oil remains the single most critical macro variable, Hariprasad said. "With Brent prices sustaining elevated levels amid ongoing tensions around the Strait of Hormuz, inflatio
Shares were mixed in Asia, and Tokyo's Nikkei 225 index hit a fresh record Monday after US stocks ended last week with new highs. The price of oil gained more than USD 1 as talks on ending the war with Iran hit more snags. The White House cancelled plans to send envoys to Pakistan for more negotiations, and US President Donald Trump cited a lack of progress. "If they want, we can talk, but we're not sending people," Trump told Fox News on Sunday. He said earlier on social media: "All they have to do is call!!!" This week will bring decisions on interest rates by top central banks, including the Federal Reserve, the European Central Bank, the Bank of Japan and the Bank of England. In Tokyo, the Nikkei 225 surged 1.4 per cent to 60,564.18, touching new intraday highs. The Kospi in South Korea jumped 2.1 per cent to 6,617.94. Hong Kong's Hang Seng index edged 0.1 per cent lower to 25,951.86, and the Shanghai Composite index was up 0.2 per cent at 4,089.04. Australia's S&P/ASX 200 ..