Live
- TDP National General Secretary Urges Alur Residents to Support Chandrababu
- Former wrestler Narsingh elected chairman of WFI's athletes' commission
- Moscow court holds top defence official in jail on corruption charges
- Congress will form government at Centre: Telangana CM
- Union Minister Ashwini Vaishnaw Promises Confirmed Railway Tickets For All Passengers Within Five Years
- Akhilesh Yadav To Contest Kannauj Lok Sabha Seat, Confirms Samajwadi Party Leader
- Nitin Gadkari Collapses On Stage At Maharashtra Election Rally
- Naveen unveils BJD roadmap to make Odisha No.1
- Daily Forex Rates (24-04-2024)
- Yoga Pranayama Exercises for Heart Health
This Week, It's All About Raghuram Rajan's Rate Call
Highlights
All eyes are now on the Reserve Bank\'s monetary policy review on September 29 as the stance taken by its chief Raghuram Rajan will determine the broader trajectory of the market.
All eyes are now on the Reserve Bank's monetary policy review on September 29 as the stance taken by its chief Raghuram Rajan will determine the broader trajectory of the market.
.jpg)
Besides, auto firms will be in focus amid announcement of monthly sales data for September from Thursday.
"This time majority of participants are hoping for 25 basis points cut in key lending rate," said Jayant Manglik President of Retail Distribution at Religare Securities.
Rate cut hopes are fuelled by retail inflation dropping to 3.66 per cent in August as well as economy expanding at a slower pace of 7 per cent during the same month.
"Outcome of RBI's monetary policy review, macroeconomic data, trend in global markets, investment by foreign investors, movement of rupee against the dollar and crude oil price will dictate trend of the market," said Vivek Gupta, CMT - director research of CapitalVia Global Research.
Last week, sentiment was hit by sharp fall in European stocks. On a weekly basis, the benchmark BSE Sensex lost 355.41 points or 1.35 per cent to 25,863.50.
For the week ahead, investors will also be eyeing Nikkei India Manufacturing PMI scheduled to be released on Thursday.
But according to Hitesh Agrawal, head research at Reliance Securities it will be monetary policy review on Tuesday that will dictate market sentiment.
"... in wake of the US Fed's status quo on its interest rate and supportive domestic inflation data, expectations of a rate cut by the RBI this time around are high," he added.
Mr Agrawal also lists global stock market trend that will influence domestic indices.
Meanwhile, equity markets will remain closed on Friday on account of Gandhi Jayanti.
Next Story
ADVERTISEMENT
