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The Asian indices touched red as Nikkei, Kospi slipped more than 1 per cent each. Investors are anticipated to remain cautious as the stock market begins the trading week on Monday. The rising geopolitical concerns due to the emerging Iran-Israel conflict could add to the woes and impact the sentiment amongst investors. 

Last week, the key equity benchmark indices broke their bullish run and reversed trend as the session ended on Friday. The uncertainty regarding the interest rate decision from the US Federal Reserve along with global turmoil impacted the market movements.

In the last trading session on Friday, the S&P BSE Sensex closed the day at 74,245, plunging about 800 points, while the NSE Nifty50 settled at 22,519, declining more than 200 points. The Sensex hit a fresh low of 74,189 during the day, while the Nifty made a new record at the low of 22,504. 

Meanwhile, official data from the depositories revealed that the foreign portfolio investors retained their bullish outlook on Indian equities in April so far, as of April 12, and infused the segment with Rs 13,347 crore, backed by a resilient Indian economy. The investment in the Indian debt market stood at Rs 1,522 crore in the month.

However, the investors became wary of equities on Friday, April 12, and withdrew Rs 8,027 crore owing to concerns about revisions in India Mauritius tax treaty. Experts stated that these concerns will keep impacting FPI inflows in the near-term till there is some clarity regarding the changes.

Explaining the funds’ inflow, Himanshu Srivastava, Associate Director, Manager Research, Morningstar Investment Research India, said, “Several factors might have helped in the huge inflow including Fitch’s downgrade of China’s sovereign credit rating outlook from stable to negative due to growth concerns. In addition, anticipation of a normal monsoon season this year that could alleviate inflationary pressures, and a resilient domestic economy with promising growth prospects too helped in massive inflows.”