Reserve Bank of India (RBI) The monetary policy meeting of the RBI is starting from 6 August. On August 8, the monetary policy committee of the RBI will announce its decision. Market experts believe that the market will keep an eye on this monetary policy decision of the RBI. Apart from this, macroeconomic data and the trend of global markets will also affect the market movement. Analysts said that apart from this, the activities of foreign investors and the first quarter results of companies will be important for the direction of the market. The HSBC PMI (Purchasing Managers Index) data of the service sector will be announced on Monday. If there is a decision to reduce the repo rate, then a tremendous boom can be seen in the stock market. At the same time, the effect of increasing tension between Israel and Hamas can be seen on global markets. The fall in the global market can also affect the Indian market. The market may fall further.
Keep an eye on global markets
Santosh Meena, Head of Research, Swastika Investmart Ltd. said, “This week all eyes will be on the global markets. After a long period of stability, some signs of weakness are now visible in the market. This will test the strength of the Indian market, which is still aggressive due to better liquidity conditions.” Meena said that on the domestic front, the monetary review meeting of the Reserve Bank on August 8 will be important. He said that some stock-specific activities can be seen in the market from the last round of first quarter results. Apart from this, institutional flow will also be important for the direction of the market.
Results of these big companies will come
During the week, big companies like Bharti Airtel, BEML, ONGC, NHPC, Life Insurance Corporation of India and MRF will announce their quarterly results. Vinod Nair, Head of Research, Geojit Financial Services, said, “Going forward, there may be some weakness in the market due to high valuations. This week’s RBI monetary review meeting will give some indication on the interest rate scenario. For now, the central bank may maintain the status quo on interest rates.”
There was a big drop on Friday
Last week, amid selling pressure, the 30-share BSE Sensex closed 885.60 points or 1.08 percent lower at 80,981.95 points on Friday. The National Stock Exchange’s Nifty slipped 293.20 points or 1.17 percent to 24,717.70 points. Analysts said that market participants will also keep an eye on the fluctuations in global crude oil prices and the trend of rupee against the dollar.
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