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Shares to consolidate ahead of RBI policy
April 27, 2013 / 12:42 AM / 5 years ago

Shares to consolidate ahead of RBI policy

Reuters Market Eye: The central bank’s annual monetary policy review on Friday will be crucial for shares next week alongside key earnings of Hindustan Unilever Ltd(HLL.NS), IDFC Ltd and Bharti Airtel Ltd(BRTI.NS).

A man makes a phone call while standing near a Reserve Bank of India (RBI) crest at the RBI headquarters in Mumbai January 29, 2013. REUTERS/Vivek Prakash/Files

A Reuters poll shows 37 of 42 economists expect the central bank to cut the repo rate by 25 basis points on May 3.

The Reserve Bank of India’s (RBI) guidance on future policy stance will be key for direction in the near-term post the policy outcome due around 11 a.m. IST on Friday.

The Nifty is expected to move in a range of 5750-5950 ahead of the RBI policy, dealers said.

KEY EVENTS/FACTORS TO WATCH

Monday: Hindustan Unilever earnings Tuesday: Infrastructure output data for March due around noon

Fiscal deficit data for March Wednesday: Markets closed for Maharashtra Day holiday, IDFC earnings Thursday: RBI to release macro-economic review at 1130 GMT, earnings of Bharti Airtel. Friday: RBI to announce annual monetary policy decision at 0530 GMT, Ambuja Cements Ltd (ABUJ.NS) and ACC Ltd (ACC.NS) results.

Reporting by Abhishek Vishnoi

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