RBI Policy, Earnings, Economic Data To Drive Markets: Experts

RBI Policy, Earnings, Economic Data To Drive Markets: Experts
New Delhi: The Reserve Bank of India's policy meeting, the last leg of quarterly earnings and macroeconomic data would set the stock market trend in an eventful week starting August 8, say experts.

"RBI policy and first quarter earnings will set market sentiment this week. The next major event this week is the Reserve Bank of India's (RBI) third bi-monthly monetary policy meeting scheduled on Tuesday," said Vijay Singhania, founder-director of Trade Smart Online.

Apart from the RBI policy review, the last batch of corporate results for the quarter ended June 2016, progress of monsoon rains and macroeconomic data will dictate market trend in the near term, he added.

The domestic earnings season almost comes to an end during the week. Among key earnings slated for the week ahead are from Hero MotoCorp, Idea Cellular, Adani Ports and Special Economic Zone, Lupin, Mahindra & Mahindra and Hindalco Industries.

Among macroeconomic data, the government will announce data on industrial production for June 2016 on Friday.

On the same day, data on Consumer Price Index-based inflation for July is scheduled to be released, Mr Singhania said.

"The most important event for the coming week is RBI's monetary policy announcement," said Pankaj Sharma, head of equities at Equirus Securities.

During the week from August 1 to August 5, both indices - Sensex and Nifty - rose 26.49 points and 44.65 points, respectively.

"Market movement this week will depend on quarterly result announcement. Along with this, activities of foreign portfolio investors is going to be key. Investors will keep a watch on RBI interest rate decision scheduled on Tuesday along with data like industrial production and inflation rate scheduled on Friday," said Rohit Gadia, founder and CEO of CapitalVia Global Research.