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Hemant Parikh at 07:29 PM - Sep 27, 2015 ( ) Views: 430

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Outcome of RBI's policy review, macro-economic data to dictate trend


Macroeconomic data, trend in global markets, investment by foreign portfolio investors (FPIs), the movement of rupee against the dollar and crude oil price movement will dictate trend on the bourses in the truncated trading week ahead.

Indian stock markets will remain closed on Friday, 2 October 2015, on account of Gandhi Jayanti.

Among key domestic events lined up for the week, the Reserve Bank of India's (RBI) fourth bi-monthly monetary policy review for the year 2015-16 is scheduled on Tuesday, 29 September 2015. The RBI had kept its benchmark lending rate viz. the repo rate unchanged at 7.25% after a monetary policy review on 4 August 2015. RBI Governor Dr. Raghuram G. Rajan had at that time indicated in his written monetary policy statement that going ahead RBI will monitor developments for emerging room for further reduction in the policy rate. The RBI has cut the benchmark lending rate viz. the repo rate by 75 basis points since January 2015.

Shares of automobile companies will be in focus as companies start announcing monthly sales volume data for September 2015 from Thursday, 1 October 2015.

Shares of public sector oil marketing companies (PSU OMCs) will be in focus as a regular fuel price review is due at the month end. PSU OMCs review fuel prices twice a month based on the trend in international oil market and currency movement. The first review takes place during the middle of the month and the last review at the month-end. PSU OMCs also review jet fuel prices on the last day of the month.

In stock specific news, Adani Ports and Special Economic Zone (APSEZ) replaces NMDC as a constituent in the 50-unit CNX Nifty index with effect from Monday, 28 September 2015.

Among macro-economic data, the Nikkei India Manufacturing PMI data for the month of September 2015 is due on Thursday, 1 October 2015. The seasonally adjusted Nikkei India Manufacturing Purchasing Managers' Index (PMI) declined to 52.3 in August from 52.7 in July.

On the global front, the Eurozone unemployment data for the month of August is due on Wednesday, 30 September 2015. In China, Caixin manufacturing and services PMI data for the month of September is due on Thursday, 1 October 2015.

In the United States, the influential non-farm payrolls data for the month of September is due on Friday, 2 October 2015.

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