ZCZC
BCN-10
INDIA-MACRO-ECONOMIC-DATA-RBI
RBI interest rate decision, macro data, global events to steer markets:
Analysts
New Delhi, Dec 1, 2019 (BSS/PTI) – Macroeconomic data announcement,
auto sales numbers, RBI interest rate decision and global events related to
the US and China over Hong Kong would drive market sentiment this week,
analysts said.
PMI data for manufacturing and services sectors are scheduled to come this
week which may also impact trading at the bourses.
“For the week ahead, November auto sales and RBI policy meet this week will
influence the market. Main indices performance will be tepid,” Vinod Nair,
Head of Research, Geojit Financial Services said.
Equity markets may on Monday also react to India’s economic growth slipping
further to a low of 4.5 per cent in July-September. The official data was
released post market hours on Friday.
“Markets will react to the GDP numbers in early trade on Monday. The recent
feud between the US and China over Hong Kong could induce volatility in the
global markets,” Ajit Mishra, VP – Research, Religare Broking said.
Amar Ambani, Senior President and Head of Research Institutional Equities,
YES Securities said, the GDP growth figure was as per their estimate and
while there may be a mild negative reaction on Monday, it will not change the
medium term trajectory for equities.
TradingBells Co-Founder and CEO Amit Gupta said other than the RBI policy,
auto sales numbers and global cues will be important for the market this
week.
The Sensex advanced 434.40 points or 1.07 per cent last week.
Rahul Gupta, Head of Research-Currency, Emkay Global Financial Services
said,” India’s manufacturing and industrial sectors have been witnessing a
slowdown along with fall in consumer demand, private investment and global
slowdown. Thus, to revive growth we expect the RBI to again cut repo rate by
25 basis points in December 5 policy,”.
BSS/PTI/HR/1330