G. Chokkalingam Head of Research at Equinomics Research told Times Now Digital, “continued conflicts and subsequent rally in crude oil prices is a cause of worry. Oil has now moved up over 18% in the last couple of weeks. Due to rally in oil prices, the rupee is also likely to remain weak today. Therefore equity markets are likely to remain weak today. However, by the end of this week global political pressures should start building up to reduce conflicts. Hope still remains as continued conflicts in West Asia will cause severe economic crisis for Iran and significant economic pressures for all major economies including US and China. Hence investors focusing on quality small and midcap companies, which focus largely on domestic demand themes will do well in the short-term to medium-term. Largecaps especially Sensex & Nifty basket stocks generally may come under pressures due to continued FII selling.”
