Anjali Sharma
GG News Bureau
WASHINGTON DC, 29th Jan. The Analyst said on Sunday that the Interim budget and the US Federal policy decision and quarterly earnings are the key developments this coming week..
The analysts are keen on the stock market as these developments are going to be the major drivers for stock markets which may also see some consolidation this week.
It is anticipated that the market is likely to consolidate further ahead of the US Fed interest rate decision where the Fed is expected to maintain status quo and give some hint with regards to rate cut timeline.
Focus will be on the trading activity of foreign investors and global trends for further cues.
The key developments to look for in the domestic as well as the international market will be the Interim Budget by Finance Minister Nirmala Sitharaman on February 1, and the Federal Open Market Committee meeting which is to be held on January 30 and 31.
The macroeconomic front, the PMI (Purchasing Managers’ Index) data for the manufacturing sector is scheduled to be announced on Thursday.
Bank of England monetary policy is also due, coupled with a few key economic data releases which might keep markets volatile.
Adani Green Energy, Bajaj Finance, Bajaj Finserv, Maruti Suzuki India, Titan and InterGlobe Aviation will announce their quarterly earnings.
A recent report by Axis Securities has said with the budget being interim in nature, no big-bang announcements are expected. ”Rather, we expect the budget to focus more on retaining the roadmap of growth with some flavour of populism,” it added.
BSE benchmark fell by 982.56 points or 1.37per cent, and the Nifty declined 269.8 points or 1.24 per cent.
