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RBI policy, Q2 earnings key to stock market this week: experts

PTI  New Delhi, October 28, 2012
First Published: 12:28 IST(28/10/2012) | Last Updated: 12:30 IST(28/10/2012)

The Reserve Bank of India's monetary policy review, next set of corporate earnings and the outcome of reshuffle of the Union council of ministers will dictate the trend on the bourses this week, say analysts.

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Besides, automobile and cement stocks will be in focus as companies from these two sectors will unveil their monthly sales data for October from Thursday.

The RBI will announce its second quarter review of monetary policy on Tuesday.

"RBI policy and cabinet reshuffle would be key to set the tone for the market in near-term," an expert said.

"Markets will react on Monday after seeing the portfolio reshuffle," CNI research CMD Kishore Ostwal said.

For this week, Bhel, Maruti Suzuki India, Dr Reddy's Lab, Power Grid Corporation of India and Wipro will announce their results and stock specific action will be seen in these counters, experts said.

"Stock market is expected to remain volatile amid a key RBI policy review meet on Tuesday. Markets are indeed hopeful of a rate cut despite a sticky inflation," Alex Mathews of Geojit BNP Paribas, said.

Meanwhile, stock markets failed to end the week on positive note and closed at its lowest in one-and-a-half weeks. The market logged gains in two of four trading sessions in a truncated week.


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