Thursday, Apr 25, 2024 | Last Update : 12:56 AM IST
RBI policy in limelight for markets in truncated week
A spate of economic data are lined up globally and domestically.
New Delhi: The upcoming RBI policy review and release of macroeconomic data will decide which way stocks will move in a holiday-shortened week ahead, say experts. The exchanges will be shut on Tuesday for Ram Navami.
"Several macroeconomic data like services PMI and manufacturing PMI are expected, which could give direction regarding the move on either side. The most important event, RBI policy, is also due.
Overall, we believe the market to trade with volatility this week," said Abnish Kumar Sudhanshu, Director and Research Head, Amrapali Aadya Trading and Investments.
On the macro front, PMI data on manufacturing and services sectors will also have a bearing, experts added.
"A spate of economic data are lined up globally and domestically. But all that data may not have an impact on our markets. But markets would position themselves ahead of the two-day RBI meet on Wednesday and Thursday," said V K Sharma, Head - PCG (Private Client Group) HDFC Securities.
"Rupee movement against the dollar and outcome of RBI's monetary policy will dictate sentiment in the truncated trading week ahead," said Vijay Singhania, Founder-Director, Trade Smart Online.
Auto stocks will also remain in focus on Monday amid March sales data announcement. Over the last week, the Sensex climbed 199.10 points, or 0.67 per cent, while the Nifty gained 65.75 points, or 0.72 per cent.
