Key Market Drivers This Week: RBI Policy, Q1 Results, Global Cues, and Israel-Iran Conflict
Week Ahead: Key Market Drivers
The Indian stock market was volatile last week, ending slightly lower after mixed signals. The Nifty 50 stayed mostly steady, showing signs of slowing down. Selective buying in major sectors kept the market mood positive.
Main Focus for Investors This Week:
- RBI Policy Meeting: The RBI’s Monetary Policy Committee will meet from August 6-8 to discuss interest rates. The decision will be announced on August 8. The RBI is expected to keep the repo rate at 6.5%.
- Q1FY25 Results: Investors will watch the latest quarterly results. Major companies like Bharti Airtel, Tata Power, and TVS Motor will announce their earnings.
- Global Issues: The Israel-Iran conflict and global economic signals will also be important. Weak US data caused a global sell-off last week, affecting the Indian market.
- IPO Activity: Several new IPOs and listings are expected this week, including Brainbees Solutions and Unicommerce eSolutions.
- FII Activity: Foreign institutional investors sold ₹12,756.26 crore last week, but domestic investors bought ₹23,486 crore in July.
- Oil Prices: International oil prices dropped to their lowest since January 2024 due to concerns about a global economic slowdown.
Market Performance:
- Sensex and Nifty: Both indices ended lower last week, breaking an eight-week winning streak. The Sensex closed at 80,981.95 and the Nifty at 24,717.70.
- Sector Trends: Energy and pharma stocks performed well, while IT and auto stocks were the top losers.
Technical Outlook:
- The Nifty may test the 24,550 level, with further support at 24,200. On the upside, 25,000 is a key resistance level.
- The Bank Nifty faces resistance at 52,000 and has support at 50,500.
Key Advice:
- Analysts recommend focusing on stock-specific trading and managing risks, especially given the mixed signals from global markets.
This week will be crucial for investors as they navigate through key events and market dynamics.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
