Indian Stock Market Expected to Rally Amid Global Tensions and Crude Oil Price Fluctuations

The Indian stock market is likely to witness a major rally during the next week. In fact, the talks between Iran and the US in Pakistan have ended inconclusively. Global tensions are expected to flare up again. Analysts said that apart from developments in West Asia, crude oil prices will also set the tone of the market this week. However, this week will be short due to a holiday. The markets will be closed on Tuesday, the second day of the week, on account of Dr. Bhimrao Ambedkar Jayanti. Last week, after the US-Iran ceasefire and a fall in crude oil prices, crude oil had risen sharply below $100 a barrel. During this time, the BSE Sensex rose 4 points and the NSE Nifty rose 1 point. However, tensions between the two countries may flare up once again. A senior Iranian official said on Sunday that the talks ended without any agreement due to the US side's high demands. Iran's Foreign Ministry spokesman Esmail Esmail Esmaili said that Iran's nuclear program would never end.