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HomeMarketStocksRBI's rate decision, state poll results major factors to drive equity market:...

RBI’s rate decision, state poll results major factors to drive equity market: Analysts

New Delhi: RBI‘s rate of interest determination is a significant factor that can drive the tendencies within the fairness market this week, whereas world cues and overseas fund buying and selling exercise would even be watched, analysts mentioned. Market buyers would additionally monitor the state election outcomes later this week, they added.

“World cues proceed to trigger volatility, however this week the market’s focus will shift to home cues like RBI coverage and state election outcomes. The end result of the RBI coverage is scheduled for 7 December, whereas the outcomes of Gujarat and Himachal Pradesh meeting elections will come on 8 December,” mentioned Santosh Meena, Head of Analysis,


On the worldwide entrance, the US bond yields and the dollar index have fallen sharply, and markets will proceed to look at their transfer from right here, Meena added.

From macroeconmic information entrance, Buying Managers’ Index (PMI) information for the providers sector is scheduled to be introduced on Monday.

Traders would keenly look ahead to the result of Gujarat state election that’s due this week, mentioned Siddhartha Khemka, Head – Retail Analysis,


The fairness market depicted a constructive pattern final week because the BSE benchmark jumped 574.86 factors or 0.92 per cent.

In keeping with Apurva Sheth, Head of Market Views, Samco Securities, the main focus could be on the RBI’s rate of interest determination.

“The 2 quick triggers — RBI’s credit score coverage this week and the US Fed assembly in mid-December on the speed entrance — would decide buyers’ temper within the close to time period,” Amol Athawale, Deputy Vice President – Technical Analysis, Kotak Securities Ltd, mentioned.

In addition to, motion of Brent crude oil value and rupee would additionally affect buying and selling out there.

Vinod Nair, Head of Analysis at

, mentioned, market motion might be decided by the result of the RBI coverage assembly.

“Given the underlying excessive valuation, Fed coverage and stringent Chinese language COVID restrictions, the market will stay extremely delicate within the coming weeks,” Nair added.

Deepak Jasani, Head of Retail Analysis,

Securities, mentioned RBI MPC coverage end result on December 7 might be watched intently for additional cues on longevity and sharpness of fee hikes in India.

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