Stock markets will be driven by RBI's interest rate decision, tariff-related developments, global trends and trading activity of foreign investors in this holiday-shortened week, analysts said.
RBI interest rate decision, macroeconomic data and global trends would guide markets' movement this week, analysts said. Besides, trading activity of foreign investors and the last batch of Q1 earnings announcements would also guide trends in equities. HSBC PMI (Purchasing Managers' Index) for the services sector is scheduled to be announced on Monday.
The index has remained above the 50-mark, below which it indicates contraction, for more than three years now.
According to HSBC, the RBI will keep the policy rate on hold next week, although it is likely to cut the CRR by 0.25 per cent to address the lingering liquidity tightness.
Production at factories, mines and utilities likely rose an annual 2.4 per cent in August, up from July's 0.5 per cent rise, according to the survey of 26 economists.
Investor sentiment got a boost following remarks from the Russian President Putin that allayed fears of an imminent military conflict in Ukraine
ONGC, Sesa Sterlite, Tata Steel, RIL and HDFC emerged as the biggest losers
Sensex hit a record high of 27,225.85 and Nifty hit a record high of 8,141.90 in the intra-day trades today.
Expenditure cuts necessitated by slowing revenue growth, weak industrial activity worrisome portents
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