Weekly Market Outlook: Can Nifty find its footing as crude, Fed policy drive markets?

Indian equity markets enter a holiday-shortened week with the Nifty 50 at a crucial support zone after extending its losing streak to five consecutive weeks. With markets shut on Monday for Ganesh Chaturthi, Tuesday’s session will give investors their first chance to react to movements in crude oil, bond yields and expectations around the US Federal Reserve’s policy decision.The Nifty ended Friday at 23,398.10, down 79.70 points, or 0.34%, while the BSE Sensex closed at 74,781.76, down 120.83 points, or 0.16%.The Nifty touched a three-month low during the week, extending the weakness in the broader market. The Nifty Bank fell for a third consecutive week, while the Nifty Midcap index declined for the second straight week. The Nifty SmallCap index also slipped after three consecutive weeks of gains.