New Delhi: Reserve Bank of India’s monetary policy analysis, macroeconomic statistics points and quarterly wages would drive the stock market trend in a busy week henceforth, experts stated.
“Impending RBI’s monetary policy and current June 2017 quarter wages will set the market sentiment this week,” Vijay Singhania, Founder-Director, Trade Smart Online affirmed.
Key companies slated to declare their results this week involve Power Grid, Tech Mahindra, Lupin, Punjab National Bank, Indian Oil Corporation and Mahindra.
“RBI is slated to convene this week and the market would eagerly wait for step on rate drop front,” Jimeet Modi, CEO, SAMCO Securities asserted.
Declaration of manufacturing and services PMI information will also manipulate trading sentiment, experts said.
“This week would be eagerly observed as most vital occasion RBI policy for the Indian economy is pending on August 2.
“Macroeconomic pointers including development of PMI and services PMI information are also slated in the week that will reveal the colour of the economy,” Abnish Kumar Sudhanshu, Director and Research Head, Amrapali Aadya Trading and Investments stated.
Sensex reached 280.99 points, 0.87 per cent, on the other hand, the Nifty achieved 99.25 points, or 1 per cent.