Equity markets’ focus will shift to the RBI interest rate decision scheduled this week, with investors also tracking the ongoing third quarter earnings, global trends and foreign fund trading activity, for further cues, analysts said.
Brent crude oil prices and rupee-dollar movement would also drive the trends in the market.
“The direction of the US market will be closely watched, but the flow of FIIs will be crucial because they have been selling heavily in the Indian market since the beginning of 2023, and it has intensified following the Adani Group crisis.
“This week will see the release of Q3 earnings from companies such as Bharti Airtel, Hero MotoCorp, Hindalco and Mahindra & Mahindra as well as macroeconomic data from the United States. RBI policy, whose outcome is scheduled for February 8, will be a critical domestic event,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Adani Group stocks have taken a beating on the bourses after the US-based …
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