RBI policy, PMI data hold key to stock mkts

Outcome of RBI policy meeting, macroeconomic data points and investment trend of overseas investors will be the prime pointers of direction for the stock market this week, say experts.

The markets are closed today for Gandhi Jayanti. “Going ahead, we expect the focus to shift to RBI’s policy and upcoming quarterly results and globally, on unwinding of balancesheet by the US Fed and the oil prices trend,” said Teena Virmani, VP - PCG Research, Kotak Securities. PMI data on manufacturing and services sectors, due this week, are also key determinants for the market movement, experts added.

“Last week, weakness in the indices continued, with the rupee becoming weak and crude prices rising,” said Anita Gandhi, Director, Arihant Capital.