RBI interest rate decision, West Asia conflict to drive markets: Analysts

The Reserve Bank of India's (RBI's) interest rate decision, Middle East conflict and trading activity of foreign investors are the key factors that will dictate investors' sentiment in the market this week, analysts said. Moreover, quarterly earnings from IT bellwether TCS, domestic macroeconomic data and movement in global oil benchmark Brent crude would also guide trends in the market. Worsening tensions in the Middle East and foreign fund outflows were the major culprits behind the equity markets sharp fall last week. "On the domestic front, the market's focus will be on the RBI Monetary Policy Committee (MPC), which is scheduled to meet from October 7 to 9, 2024, with the outcome to be announced on Wednesday," Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd, said. The second quarter earnings season is kicking off with TCS, he said. "Domestically, liquidity remains strong, with signs of sectoral rotation from overvalued segments to areas with more attractive ...
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