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Next week, RBI policy and global cues to dictate the trend in the market

  With the Union Budget behind us, the focus would be on the Reserve Bank of India (RBI) monetary policy on Wednesday, 8th February 2017. While most of the street expect the RBI to leave benchmark repo rates unchanged at 6.25 per cent.

Some feel RBI may go for a 25 basis points (bps) cut to kick start the economic growth engine of the country which has been muted for quite some time now.

But more than the rate cut market would take a cue from the governor speech on the overall growth in the economy especially in context with the globe and its impact on India.

With no major negatives expected in the current week market will continue to remain positive with the index movement being rangebound. The market this week will keep an eye on the budget session that ends on Thursday, 9th February 2017. Momentum will also gather ahead of the upcoming state election in the five states.

However there isn't any major triggers in the domestic market and the Indian market will take a cue from its global counter parts, especially the development in US, Euro-zone and China.

Stocks of pharma major Dr Reddy's Labs, Cipla and Lupin will remain in focus ahead of its December quarter results. Other companies like State Bank of India, Tata Steel, Bhel, Hero MotoCorp, Mahindra & Mahindra, Tata Power, NTPC, BPCL, Gail and Power Grid Corporation will also remain in action as it unveil its quarterly results.
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