Markets weekahead: RBI policy, earnings key for shares
Reuters Market Eye - The Reserve Bank of India's policy review on Tuesday and earnings of blue-chip companies will be the key factors for 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. (Read preview story here)
As a result, stocks could see a steep selloff if the RBI surprises markets by keeping key lending rate unchanged or by signalling a reduced scope of rate cuts ahead.
ICICI Bank Ltd (ICBK.NS), Bharti Airtel Ltd (BRTI.NS), and Bharat Heavy Electricals Ltd (BHEL.NS) 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
Monday: RBI macro-economic report (5 p.m.); JSW Steel Ltd (JSTL.NS) earnings
Tuesday: RBI's review (decision at 11 a.m.); Reliance Capital Ltd RCAP.NS and Sterlite Industries Ltd STRL.NS earnings
Thursday.: ICICI Bank, Lupin Ltd (LUPN.NS) and Bharti Airtel's earnings; December fiscal deficit data; derivatives expiry
Friday: BHEL and IDFC Ltd (IDFC.NS) earnings
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
- Search for Malaysia Airlines jet refocuses on drone scans of seafloor
- India passes halfway mark in election with BJP gaining strength
- Borno state authorities say most of abducted schoolgirls still missing
- RPT-Reports of e-cigarette injury jump amid rising popularity, U.S. data show
- Founder of scandal-hit drugmaker Servier dies at 92
Wipro posted a 29 percent rise in its fourth-quarter net profit, beating expectations, helped by increased IT spending by its customers. For the quarter ended March 31, the company said it earned 22.27 billion rupees compared with 17.29 billion rupees a year earlier. Full Article | Full Coverage