Ahead of Market: 10 things that will decide stock market action on Wednesday

The Indian stock market crashed on Monday, with Sensex and Nifty sliding more than 1% each as strong selling in heavyweight private banks along with other factors spooked investors.

Sensex dropped nearly 900 points to close at 73,853 while Nifty 50 fell over 250 points to end the session below the 22,900 level. The selloff wiped nearly Rs 5 lakh crore off the combined market value of BSE-listed companies, taking it below Rs 468 lakh crore.

Here's how analysts read the market pulse

“Indian equities came under renewed selling pressure, reversing the recent recovery as weak global cues and selling in private banks and IT stocks weighed on investor sentiment. Global markets remained cautious ahead of a busy week of corporate earnings. Private banks remained under pressure following quarterly earnings and concerns over margin trends, while PSU banks bucked the broader weakness, supported by expectations of relatively resilient margins and asset quality. Crude oil prices eased after the US waived key sanctions linked to Russia, raising expectations of increased Russian fuel supplies to the global market. However, crude prices remained elevated, with geopolitical tensions continuing to influence the outlook. The Nifty slipped below the psychologically important 23,000 level, while broader market breadth remained weak, reflecting cautious investor sentiment amid earnings-related volatility and uncertain global cues,” said Vinod Nair, Head of Research, Geojit Investments Limited.