Markets range-bound amid headwinds

Indian equities are expected to remain cautious and largely range-bound in the near term amid persistent global uncertainties, continued foreign investor outflows and elevated crude oil prices.

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The US Federal Reserve has maintained a status quo on interest rates, signalling a data-driven approach, which has kept global risk sentiment mixed and reinforced concerns around tighter liquidity conditions. Ongoing geopolitical tensions in West Asia and firm energy prices continue to weigh on emerging markets, including India. Key global indicators to watch include PMI readings, US crude inventory data and labour market trends, while domestically, PMI data will provide cues on economic momentum.