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RBI policy, quarterly results key drivers for markets this week: Experts
New Delhi, Feb 3, 2019 (BSS/PTI) – The RBI’s policy meet outcome, ongoing
quarterly results season and global cues will set the tone for the stock
markets this week, analysts said.
The markets may also see an overhang of the interim budget announcements,
they added.
“For the week ahead, the key drivers would be the outcome of the Reserve
Bank of India’s (RBI) monetary policy meeting, corporate results and the
sustainability of FII flows,” said Viral Berawala, CIO, Essel Mutual Fund.
“While the reflationary stance of the budget could provide a boost to
corporate earnings, especially in consumption, agri-rural sector, retail
lending and housing, there can be implications for inflation and interest
rates as well,” said Dhananjay Sinha, Head, Institutional Research, Economist
and Strategist, Emkay Global Financial Services.
Bekxy Kuriakose, Head – Fixed Income, Principal Mutual Fund, said, “Focus
will shift to the RBI monetary policy review on February 7th.”
Services sector data to be announced early this week will also influence
trading sentiment, they said.
CIL, IDBI, BHEL, GAIL, PNB, Cipla and Lupin are among the major corporates
scheduled to announce their results this week.
“The markets will over the next few days take their own trajectory after
this small time window of anticipation of and reaction to the Budget,” said
Dhiraj Relli, MD & CEO, HDFC Securities.
Over the past week, the BSE Sensex gained 443.89 points to close at
36,469.43 on Friday.
BSS/AFP/HR/1500