Indian shares await RBI decision, earnings
Indian shares may falter ahead as investors eagerly await the Reserve Bank of India's (RBI) first quarter policy review on July 30. Earnings from companies are also expected to keep the market on its toes.
July 27, 2013 / 12:25 IST
Indian shares are expected to falter, with banks remaining weak ahead of the Reserve Bank of India's (RBI) policy review on Tuesday.
The review comes after the RBI's decision to shore up short-term interest rates to defend the rupee has hit banks and other financial shares.Also read: Guidance, in line results to boost Wipro stock: ExpertsThe RBI is expected to keep policy rates and the cash reserve ratio unchanged, with investors focused on its statement for cues about future action.Bond yields and rupee movements will also be tracked as investors fear the RBI's measures to defend to currency will lead to higher borrowing costs and hurt economic growth.Global share movements will also be important as the Federal Reserve is due to end its two-day meeting on July 31.Blue chips such as IDFC Ltd , ICICI Bank and Dr.Reddy's Laboratories Ltd will also report quarterly results in the week ahead.Key events to watch: Monday:Earnings: UltraTech Cement Ltd , Reliance Capital Ltd , IDFCIndia's Foreign Investment Promotion Board to consider Jet Airways Ltd -Etihad dealTuesday: Reserve Bank of India's policy reviewEarnings: NTPC Ltd , Reliance Infrastructure Ltd , Dr.Reddy's LaboratoriesWednesday:Earnings: United Spirits Ltd , ICICI Bank, Bharti Airtel Ltd Thursday:Earnings: Power Grid Corp of India Ltd , Reliance Communications, Idea Cellular Ltd , Bank of Baroda Manufacturing PMI for JulyFriday: India's foreign reserves data Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
