Rising Inflation: Crude oil prices are at record levels and have crossed more than $ 88.21 per barrel. Crude oil as we all know is a commodity on which almost all economic activity and industry is independent. 2. US Fed’s hawkish stance: The US Fed has also indicated that they can raise a series of interest rates that can last till 2023 and they can implement this plan sooner than expected. 3. Rising border tensions between Russia and Ukraine: If Russia invades Ukraine, Western parts like the European Union and the US can impose sanctions on Russia and this can have an impact on the global market. 4. New Omicron variant of Covid 19: The series of falls in the market with the Omicron variant is going on since last month. When there was a spike in covid cases all over the world due to the new Omicron variant of Covid 19. Many countries started taking travel restrictions, lockdown, and different preventive measures. 5. Government of India will announce the budget: On 1 February 2022, the government will announce the budget. But according to experts, assembly elections will be held in 5 states soon after the budget and hence there is speculation that the central government may also announce a populist budget.