Indian equity investors will focus on crude oil prices, global bond yields, foreign portfolio flows and geopolitical developments during the coming week. Market participants will also assess the possible impact of new US legislation authorising tariffs on countries that purchase Russian oil and gas. US President Donald Trump has signed the Sanctioning Russia and Iran Act, which expands statutory sanctions, tariffs and restrictions against Russia and extends existing sanctions on Iran. The legislation authorises tariffs of up to 100 per cent on imports from major buyers of Russian energy, including India and China, although the US administration retains discretion over implementation. The law is scheduled to take effect within 30 days of the signing. It requires duties of up to 100 per cent on goods from countries that rank among the top five purchasers of Russian crude oil or natural gas by volume during the 12 months preceding enactment. The measure also targets Russia’s leadership, energy sector, defence-industry collaborators and its shadow fleet. Investors will additionally monitor developments in US-Iran tensions, movements in crude prices and US Treasury yields. Flash purchasing managers’ index data from India, the US and the Eurozone, along with upcoming US labour-market reports, are expected to influence global and domestic market direction. Indian equities ended lower last week, with the BSE Sensex falling 486.8 points, or 0.65 per cent, to 75,939.21 and the NSE Nifty declining 51.7 points, or 0.22 per cent, to 25,327.05. Foreign Portfolio Investors have withdrawn Rs. 209.74 bn from Indian equities so far in September, amid elevated crude prices, higher US interest rates, rising bond yields and global uncertainty. The proposed listing of the National Stock Exchange of India on September 24 will be another major event for domestic markets. The exchange’s Rs. 225.69 bn initial public offering was fully subscribed on the second day of bidding, supported by demand from non-institutional investors and qualified institutional buyers.