copyrightMonetary review, quarterly results will determine market direction
Monetary review, quarterly results will determine market direction
|Monetary review, quarterly results will determine market direction|
The Reserve Bank of India's bimonthly monetary review, macroeconomic data and quarterly results of the companies will decide the direction of the stock market this week. Experts have expressed this opinion. Vijay Singhania, founder director of Trade Smart Online, said, "The forthcoming monetary review of the Reserve Bank and the results of the June quarter of the companies will affect the market sentiment." The major companies which came in quarterly results this week include Power Grid, Tech Mahindra, Lupine, Punjab National Bank, Indian Oil Corporation and Mahindra and Mahindra.
Jamieet Modi, chief executive officer of Samco Securities, said, "The Reserve Bank has a monetary review meeting this week. The market is eagerly waiting for the central bank's stance on interest rates. "
Experts said that PMI data of manufacturing and services will also affect the perception of business during the week. Avinish Kumar Sudhanshu, Research Head and Director of Amrapali Ada Trading and Investments said, "Everyone will be looked at this week.
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The monetary review for the Indian economy is to be on August 2. "He said," During the week, there will be large financial indicators such as manufacturing PMI and PMI data, which will also provide information about the status of the economy. "Last week, the Sensex of the Bombay Stock Exchange was 280.99 points or 0.87 per cent and the Nifty was at 99.25 points or one per cent gain.
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