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RBI policy to drive markets in a holiday-shortened week ahead

Stock markets will remain closed on Thursday and Friday for Gandhi Jayanthi and Dussehra respectively.

By: Press Trust of India | New Delhi |
September 28, 2014 3:44:11 pm

The Reserve Bank of India’s (RBI) monetary policy review on Tuesday would set the tone for the stock market in a holiday-shortened week ahead.

Stock markets will remain closed on Thursday and Friday for Mahatma Gandhi Jayanthi and Dussehra respectively.

Shares of automobile companies will be in focus amid release of sales data for September on Wednesday.

“This week, RBI’s monetary policy scheduled on September 30 shall be key trigger for market movement. Also, Prime Minister Narendra Modi’s visit to the US, along with global cues can boost market sentiment, as it may put more light on economic path and other reforms for the country,” said Rakesh Goyal, Senior Vice President, Bonanza Portfolio.

Marketmen said that developments from Prime Minister’s US tour will also be closely watched.

“The PM’s five-day visit to the US is expected to improve the strategic ties between the two nations and drive US investors’ interests towards the Indian markets,” said Aman Chowdhury, CEO & Founder, Cians Analytics.

Market participants will be looking at the outcome of the apex bank’s monetary policy meet on September 30 and HSBC India Manufacturing PMI for September, due on October 1.

Over the past week, the BSE benchmark Sensex lost 464.1 points to 26,626.32.

 

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