The direction of the stock markets will be decided this week mainly by the results of the Reserve Bank of India’s monetary policy review meeting.
The direction of the stock markets will be decided this week mainly by the results of the Reserve Bank of India’s monetary policy review meeting. Apart from this, market participants will also keep an eye on the global trend, the trend of foreign funds and crude oil prices.
stock exchanges (Share Market) The direction of this week mainly Reserve Bank of India (RBI) The monetary policy will be decided by the outcome of the review meeting. Apart from this, the global trend, the trend of foreign funds and Crude oil (Crude Oil) Market participants will also keep an eye on the prices. Analysts have expressed this opinion. Analysts say that the market has shown improvement recently, but it is not looking strong yet. The reason for this is rising inflation (Inflation) And amid geopolitical tensions, the policy stance has to be tightened at the global level. Santosh Meena, Head of Research, Swastika Investmart said that the Reserve Bank’s monetary review, global macro data and crude oil prices will decide the course of the market this week.
The results of the Reserve Bank’s monetary review meeting will be announced on June 8. The increase in policy rates is considered fixed by the Reserve Bank, in such a situation, what is the comment of the central bank, it will have to be seen. Industrial production (IIP) figures will come after the closure of business on June 10.
America’s unemployment figures will have an impact
Meena said that on the global front, the US unemployment claims figures are to come on Thursday and the Consumer Price Index data on Friday. These will be very important from the point of view of global markets. He said that crude oil prices are still high.
Meena further said that if these do not come down, then it may affect the market sentiment. Apart from this, Foreign Institutional Investors (FIIs) are still selling. However, now its speed has slowed down a bit. Meena said that if the rupee weakens sharply in the price of crude oil, then their selling may increase further.
Last week, the 30-share BSE Sensex has gained 884.57 points or 1.61 per cent.
All eyes will be on RBI
Ajit Mishra, Vice President – Research, Religare Broking Limited said that the quarterly results season is behind. In such a situation, now everyone’s attention will be on the meeting of the Monetary Policy Committee (MPC). This meeting is to be held from 6-8 June. The market is already gearing up for another hike in policy rates. Everyone’s attention will be on the Reserve Bank’s comment amid the forecast of favorable monsoon. He said that apart from this, all eyes will be on the performance of global markets and the price of crude oil. On the macroeconomic front, the market participants will keep an eye on the IIP data coming on June 10.
Yesha Shah, Head of Equity Research at Samco Securities said that this week all eyes will be on inflation. Apart from the monetary policy review meeting of the Reserve Bank, inflation data of China and America are also to come during the week.
Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services, said that the RBI’s monetary policy review this week is the most important development. The eyes of the investors will be mainly on this.
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