NEW DELHI, Aug 2: Trading sentiment at the stock market this week would be dictated by RBI’s policy meet and quarterly earnings from blue-chips like Bharti Airtel and Tata Motors, say experts.
Besides, progress of monsoon, investment trend by overseas investors and rupee movement would influence trading at the bourses.
Moreover, shares of automobile companies would be in focus on Monday amid monthly sales data announcement.
RBI’s rate announcement is scheduled for August 4.
“Movement of the index in near term will depend on further reforms initiatives to be taken by the government in ongoing monsoon session of Parliament and upcoming first quarter results of large-cap companies,” said Vivek Gupta, CMT – Director Research, CapitalVia Global Research Limited.
Among major earnings this week are HCL Technologies, Hero MotoCorp, Bharti Airtel, Bharat Heavy Electricals, Mahindra & Mahindra and Tata Motors.
“In the RBI meeting on August 4, if the interest rate is reduced, this would act as a short-term trigger for a strong bounce back for PSU banks,” said Jimeet Modi, CEO, SAMCO Securities.
“The quarterly earnings season has started on a muted note as far as the results for the early birds suggest. The initial numbers for June quarter results have not shown any sign of improvement amid weak domestic economic environment,” said Paras Bothra, VP, Equity Research, Ashika Stock Broking.
Over the past week, the BSE Sensex ended on a muted note, showing a marginal gain of 2.25 points at 28,114.56. (PTI)
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