Mumbai, 6 April (IANS). The next week is going to be very important for the Indian stock market. RBI will affect the market moves on MPC, retail inflation, industrial production, American recipes and global economic figures.
The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) will meet from April 7 to April 9 and the decisions of MPC will be announced by RBI Governor Sanjay Malhotra on the last day. It is believed that the repo rate can be cut by 25 basis points in the next MPC meeting.
In addition, the march retail inflation and industrial production figures can be released by the government on 11 April.
Next week, important figures are going to come globally, including the US Federal Open Market Committee (FOMC) meeting minutes, US CPI data and UK GDP data.
The last week for the Indian stock market was filled with ups and downs. During this period, the Sensex fell 2.65 percent to 75,364.69 and the Nifty fell 2.61 percent to 22,904.45.
The decline between March 1-4 saw a large selling of 9.15 percent and 7.46 percent respectively in IT and metal stocks. Only the FMCG index has closed down by 0.45 percent.
The decline is believed to be a bad global signal and a 27 percent recipe tariff on Indian goods by US President Donald Trump.
During the review period, foreign institutional investors (FIIs) sold Rs 13,730 crore in the cash segment. Domestic institutional investors (DIIs) made a purchase of Rs 5,632 crore.
Master Trust Group director Puneet Singhania says that due to global trade war, the Nifty has come to its two -week low. In such a situation, there will be 22,300 and 22,000 strong support levels for Nifty. In the event of a boom, 22,800 will be a hindrance zone.
-IANS
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