Outcome of RBI's monetary policy review to dictate trend
The major event next week is a monetary policy review from the Reserve Bank of India (RBI). The RBI will announce the First Bi-monthly Monetary Policy Statement, 2016-17 at 11:00 IST on Tuesday, 5 April 2016. Market expectations are that the RBI will cut its benchmark lending rate viz. the repo rate by atleast 25 basis points on 5 April 2016, with the government sticking to its fiscal deficit target for year 2016-17 in the Union Budget 2016-17 on 29 February 2016. The government's announcement of a reduction in interest rates on small savings schemes for Q1 June 2016 and dovish comments from US Federal Reserve Chairwoman Janet Yellen have reinforced market expectations of a rate cut from the RBI. In a speech in New York on 29 March 2016, Yellen stressed a need for a cautious stance on interest-rate increases in the backdrop of global economic slowdown.
Interest rate sensitive banking, realty and auto stocks will be in focus. Purchases of both residential and commercial property are largely driven by finance. Purchases of cars, utility vehicles and commercial vehicles are largely driven by finance.
State-run power equipment major Bharat Heavy Electricals (Bhel) is scheduled to announce its tentative financial performance or flash results for the year ended 31 March 2016 (FY 2016) on Thursday, 7 April 2016.
Markit Economics will unveil the outcome of a monthly survey on India's manufacturing sector for March 2016 on Monday, 4 April 2016. The Nikkei India Manufacturing PMI stood at 51.1 in February 2016, unchanged from January's reading. On Wednesday, 6 April 2016, Markit Economics will unveil the outcome of a monthly survey on the India's services sector for March. The seasonally adjusted Nikkei India Services Purchasing Managers' Index (PMI) fell to a three-month low of 51.4 in February 2016.
The next major trigger for the market is Q4 March 2016 results. IT major Infosys kicks off the earnings season when it unveils its results on 15 April 2016. The earnings season will conclude on 31 May 2016.
The initial public offer (IPO) of Chennai-based microfinance lender Equitas Holdings opens for bidding on Tuesday, 5 April 2016. The IPO comprises of fresh issue of shares aggregating up to Rs 720 crore and offer for sale of up to 13.24 crore equity shares by existing shareholders. The price band for the IPO has been set at Rs 109-110 per share. Bidding for the IPO through the book-building route concludes on Thursday, 7 April 2016.
Meanwhile, on the political front six-phase polling for assembly election in West Bengal and two-phase polling for assembly election in Assam kicks off on 4 April 2016.
On the global front, Asian markets will on Monday, 4 April 2016, react to the influential monthly US nonfarm payroll data for March 2016 to be released on Friday, 1 April 2016. The monthly job data would influence US monetary policy. The US central bank's mandate centers on maximizing employment and keeping inflation at a 2% target level.
Interest rate sensitive banking, realty and auto stocks will be in focus. Purchases of both residential and commercial property are largely driven by finance. Purchases of cars, utility vehicles and commercial vehicles are largely driven by finance.
State-run power equipment major Bharat Heavy Electricals (Bhel) is scheduled to announce its tentative financial performance or flash results for the year ended 31 March 2016 (FY 2016) on Thursday, 7 April 2016.
Markit Economics will unveil the outcome of a monthly survey on India's manufacturing sector for March 2016 on Monday, 4 April 2016. The Nikkei India Manufacturing PMI stood at 51.1 in February 2016, unchanged from January's reading. On Wednesday, 6 April 2016, Markit Economics will unveil the outcome of a monthly survey on the India's services sector for March. The seasonally adjusted Nikkei India Services Purchasing Managers' Index (PMI) fell to a three-month low of 51.4 in February 2016.
The next major trigger for the market is Q4 March 2016 results. IT major Infosys kicks off the earnings season when it unveils its results on 15 April 2016. The earnings season will conclude on 31 May 2016.
The initial public offer (IPO) of Chennai-based microfinance lender Equitas Holdings opens for bidding on Tuesday, 5 April 2016. The IPO comprises of fresh issue of shares aggregating up to Rs 720 crore and offer for sale of up to 13.24 crore equity shares by existing shareholders. The price band for the IPO has been set at Rs 109-110 per share. Bidding for the IPO through the book-building route concludes on Thursday, 7 April 2016.
Meanwhile, on the political front six-phase polling for assembly election in West Bengal and two-phase polling for assembly election in Assam kicks off on 4 April 2016.
On the global front, Asian markets will on Monday, 4 April 2016, react to the influential monthly US nonfarm payroll data for March 2016 to be released on Friday, 1 April 2016. The monthly job data would influence US monetary policy. The US central bank's mandate centers on maximizing employment and keeping inflation at a 2% target level.
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