The RBI interest rate decision, industrial production data for June and the ongoing quarterly earnings from corporates would largely drive the stock markets this week, analysts said.
Other major factors such as global market trends, the movement of oil prices and the trading activity of foreign investors would also influence trading, they added.
“The market will have an eye on the RBI Monetary Policy Committee (MPC) meeting, which will be announced on August 10, 2023. We are heading towards the last batch of Q2 earnings of key companies such as Adani Ports, Coal India, Hero MotoCorp, Hindalco and ONGC, among others, which will lead to stock-specific movement,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
On the macro front, market participants will be closely observing key events like industrial production and manufacturing production data, which will be released on August 11, Gour said.
Trend in global stock markets, movement of the dollar index, the rupee
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