GET Stock QuotesNews18 APP
News18 English
»
1-min read

RBI Policy, Macroeconomics Data Key and Rupee Trends Set Tone for Stock Markets this Week

"Investors are yet to gain confidence to start bottom fishing due to lack of liquidity, margin funding and short selling in the market. Weak sentiment is likely to extend till the financial market stabilises and confidence reverts with accommodative valuation. RBI policy meet this week is the key event," said Vinod Nair, Head of Research, Geojit Financial Services.

PTI

Updated:September 30, 2018, 10:41 AM IST
facebookTwittergoogleskypewhatsapp
RBI Policy, Macroeconomics Data Key and Rupee Trends Set Tone for Stock Markets this Week
Representative image.
Loading...
New Delhi: RBI's policy meeting, macroeconomic data announcements, and the trend in rupee and crude oil prices would set the tone for the stock markets in a holiday-shortened week ahead, say experts.

Bourses will remain closed Tuesday for Mahatma Gandhi Jayanti.

"Investors are yet to gain confidence to start bottom fishing due to lack of liquidity, margin funding and short selling in the market. Weak sentiment is likely to extend till the financial market stabilises and confidence reverts with accommodative valuation. RBI policy meet this week is the key event," said Vinod Nair, Head of Research, Geojit Financial Services.

RBI's interest rate decision will be announced Friday.

At its previous monetary policy meeting in August, the Reserve Bank raised the benchmark interest rate by 25 basis points to 6.50 per cent on inflationary concerns.

"RBI's interest rate decision will be crucially watched," said Mustafa Nadeem, CEO, Epic Research.

PMI data for the manufacturing and services sectors will also influence trading sentiment, experts said.

Investors would continue to track the NBFC space which has been hit by liquidity concerns.

Factors such as movement of rupee and crude oil prices would also play a key role, they added.

"Next month, hopefully will be rosier than the previous month as all the weak hands are out and the worst has already been priced in which is known to all.

"Things might only get better going ahead given the Q2 FY19 results will start pouring in. RBI's 4th bi-monthly meet could create a knee-jerk reaction if they decide to increase interest rates by 0.25 per cent," said Jimeet Modi, Founder and CEO, SAMCO Securities and StockNote.

Over the last week, the Sensex lost 614.46 points, or 1.67 per cent, to end at 36,227.14.
The Sensex has lost a whopping 2,417.93 points, or 6.26 per cent, in September -- its worst monthly show since February 2016.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Dr Reddys Labs 2,601.80 6.49
ICICI Bank 356.75 -0.32
Yes Bank 198.15 3.15
Infosys 619.10 -3.48
Reliance 1,112.90 -2.15
Company Price Change %Gain
Maruti Suzuki 7,415.80 1.14
Infosys 620.95 -3.14
TCS 1,811.75 -3.51
Dr Reddys Labs 2,594.75 5.90
Ashok Leyland 110.30 2.80
Top Gainers
Company Price Change %Gain
Dr Reddys Labs 2,601.80 6.49
Yes Bank 198.15 3.15
Grasim 863.75 3.08
Bajaj Finserv 5,851.95 2.87
UPL 779.25 2.64
Company Price Change %Gain
Yes Bank 198.00 2.83
Axis Bank 626.35 2.20
Adani Ports 360.90 1.91
Asian Paints 1,322.90 1.25
SBI 286.55 1.24
Top Losers
Company Price Change %Gain
TCS 1,812.00 -3.53
Infosys 619.10 -3.48
Power Grid Corp 182.10 -3.34
Tech Mahindra 690.65 -2.68
HCL Tech 985.15 -2.36
Company Price Change %Gain
TCS 1,811.75 -3.51
Infosys 620.95 -3.14
Power Grid Corp 182.85 -2.74
Wipro 314.05 -2.38
Reliance 1,112.30 -2.31

Live TV

Loading...
Loading...