The Indian stock markets closed in the red, with the newly launched closing auction session continuing to create a divergence between the benchmark indices Sensex and Nifty. 27%) to end the session at 24,571.

Here are 5 factors that will drive market mood starting Monday:1. Crude oil prices After a drop in the first three sessions, crude oil prices rose on Thursday and Friday amid continued uncertainty over negotiations aimed at determining control of the Strait of Hormuz and reopening the key shipping artery.

The trajectory of oil prices will largely depend on the duration of supply disruptions. JPMorgan estimates that every additional month of disruption could push Brent crude higher by about $7 to $8 a barrel.

If disruptions continue for three months, the bank expects average monthly Brent prices to reach around $114 a barrel. 2.

Q1 earnings The results calendar is set to intensify, as many as 2,045 companies are scheduled to announce their June quarter earnings between Monday and Friday. Key stocks like Tata Motors, HAL, and Vodafone Idea will be keenly watched by investors.

Goldman Sachs sees the Nifty 50 rebounding to 26,500, a level above its record high of 26,373, as it turns more constructive on India following an improvement in the recent macro backdrop. Looking ahead, it expects investors to increasingly favour reasonably valued segments as expectations of an economic recovery improve.

3. US Jobs data The US reported an unexpected decline in nonfarm payrolls in July, reducing expectations of a rate hike at the next US Fed meeting in September.

US nonfarm payrolls fell by 23,000 jobs last month after a downwardly revised increase of 20,000 in June, the Labor Department's Bureau of Labor Statistics said. Economists polled by Reuters had expected payrolls to rise by 80,000 in July.

4. FII, DII activity For the second consecutive week, Foreign Institutional Investors (FIIs) remained net buyers, making net purchases of Rs 2,911 crore in the current week, following buying worth Rs 5,949 crore in the previous week, according to provisional exchange data.

Domestic Institutional Investors (DIIs) also sustained their buying momentum, recording net purchases of Rs 7,768 crore, with inflows seen in four of the five trading sessions. 5.

Global cues A technology-led rally that has pushed US stocks to record highs faces a fresh test next week, with new inflation data likely to shape expectations around the Federal Reserve's interest-rate path. The S&P 500 posted its first all-time closing high in two months this week, driven by a rebound in technology and semiconductor shares that had previously stumbled from their record peaks.