RBI policy, TCS earnings, crude prices to steer markets this week
In September, the BSE benchmark lost 4,476.98 points, or 5.81 per cent, and the Nifty fell 1,459.95 points, or 6 per cent.
Analysts predict that the Indian stock market will be influenced by the Reserve Bank of India's interest rate decision, TCS earnings, crude oil prices, and global bond yields this week. RBI's monetary policy meeting is expected to provide crucial insights into the near-term trajectory of domestic interest rates and financial markets.
The earnings season will commence, with TCS and DMart announcing their results. India's September HSBC Services PMI and Composite PMI readings are also set to be released on October 6. Crude oil prices, currently trading above USD 100 a barrel, are a major concern, intensifying pressure on India's external balances and inflation outlook.
Global bond yields will also impact risk appetite, with a moderation in US Treasury yields potentially easing pressure on emerging-market assets and supporting a more favorable environment for foreign flows. The recent slump in Indian equities, attributed to foreign selling, a weaker rupee, high crude prices, and rising global bond yields, signals the significant impact of macroeconomic factors on market trends.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
