Sensex and Nifty edged lower today amid weak Asian markets. The Sensex was down nearly 50 points at 34,368 while Nifty was off 5 points at 10,559. Asian stocks dipped on Monday as investors braced for a bevy of earnings from the world’s largest corporations, while keeping a wary eye on US bond yields as they approach peaks that have triggered market spasms in the past.
Global markets, crude oil prices and the ongoing quarterly results season are expected to guide the domestic markets this week, say analysts. "Global tailwinds would keep the markets range-bound,, especially the crude oil prices," said Devendra Nevgi, Founder and Principal Partner, Delta Global Partners. Global oil prices were today slightly lower but not far from their highest since late 2014. The market had wobbled on Friday when Trump tweeted criticism of OPEC’s role in pushing up global prices, but quickly steadied.
