MARKET EYE WEEKAHEAD-RBI policy, earnings key for Indian shares

Fri Jan 25, 2013 5:37pm IST

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* The Reserve Bank of India's policy review on Tuesday and
earnings of blue-chip companies will be the key factors for
Indian stocks next week.
* Stock investors are widely anticipating a 25 basis point rate
cut when the RBI sets policy on Tuesday, to be followed by
another 25 bps cut in March, making the guidance provided by the
central bank as important as the rate decision itself.
* As a result, stocks could see a steep selloff if the RBI
surprises markets by keeping India's key lending rate unchanged
or by signalling a reduced scope of rate cuts ahead.
* ICICI Bank Ltd, Bharti Airtel Ltd, and
Bharat Heavy Electricals Ltd are shaping up as the
highlights among companies reporting October-December results.
* Volatility is also expected to increase as Thursday marks the
expiry of January derivatives contracts.

FACTORS TO WATCH 
Mon.: RBI macro-economic report (1130 GMT); JSW Steel Ltd
 earnings
Tues.: RBI's review (decision at 0530 GMT); Reliance Capital Ltd
 and Sterlite Industries (India) Ltd earnings
Thurs.: ICICI Bank, Lupin Ltd and Bharti Airtel's
earnings; December fiscal deficit data; derivatives expiry
Fri.: BHEL and IDFC Ltd earnings
    

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
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