RBI policy, Q1 results to drive markets this week: experts
RBI is scheduled to meet this week and the market would keenly await action on rate reduction front.
New Delhi: RBI's monetary policy review, macroeconomic data points and quarterly earnings would set the stock market trend in an eventful week ahead, say experts.
"Upcoming RBI's monetary policy and ongoing June 2017 quarter earnings will drive the market sentiment this week," said Vijay Singhania, Founder-Director, Trade Smart Online.
Major companies scheduled to announce their results this week include Power Grid, Tech Mahindra, Lupin, Punjab National Bank, Indian Oil Corporation and Mahindra and Mahindra.
"RBI is scheduled to meet this week and the market would keenly await action on rate reduction front," said Jimeet Modi, CEO, SAMCO Securities.
Announcement of manufacturing and services PMI data will also influence trading sentiment, experts added.
"This week would be keenly watched as most important event for the Indian economy, that is RBI policy, is due on August 2. "Apart from that, macroeconomic indicators like manufacturing PMI and services PMI data are also scheduled in the week, which will show the colour of the economy," said Abnish Kumar Sudhanshu, Director and Research Head, Amrapali Aadya Trading and Investments.
Last week, the Sensex climbed 280.99 points, or 0.87 per cent, while the Nifty gained 99.25 points, or 1 per cent.