INSUBCONTINENT EXCLUSIVE:
Sensex closed at 37,336.85 points -- up 840.48 points or 2.30 per cent from the previous close.Mumbai: The upcoming monetary policy review
coupled with the ongoing financial results season and key macro-economic data points will influence the trajectory of key equity indices in
the week ahead, analysts opined
According to market observers, direction of foreign fund flows, rupee's movement against the US dollar as well as global crude oil prices
will also affect investors sentiments
"The next week is dominated by macro data and RBI monetary policy meeting," Devendra Nevgi, Founder and Principal Partner, Delta Global
Partners, told IANS."On the RBI policy, the markets are divided on policy rate hike in the next weeks meeting
The decision weightage given by MPC to core inflation is crucial and whether RBI changes its stance from neutral to hawkish
RBI is likely to be data dependent and cautious on hikes."Besides the monetary policy review slated for July 31-August 1, investors will
look out for macro-economic data points such as the eight core industries' (ECI) output and the country's fiscal deficit numbers.In
addition, the PMI manufacturing and services' figures, along with monthly automobile sales data will be released during the
week.Furthermore, companies like Axis Bank, HDFC, Idea Cellular, IndiGo, Piramal Enterprises, Tech Mahindra, EIH, Tata Motors, Vedanta,
Reliance Infra, ONGC and SAIL are expected to announce their Q1 earning results next week."Going forward, besides the movement of rupee
against the dollar and crude oil price movement, the next batch of April to June 2018 quarterly earnings and developments in monsoon session
of parliament will dictate trend on the bourses next week," SMC Investments Advisors Chairman and Managing Director D.K
Aggarwal told IANS.On a weekly basis, the rupee strengthened by 19 paise to close at 68.66 from its previous week's close of 68.85 per
greenback.In terms of investments, provisional figures from the stock exchanges showed that foreign institutional investors bought scrip
worth Rs 2,539.58 crore during the previous week.As per technical charts, the underlying trend for the National Stock Exchange (NSE) Nifty
remains bullish as it closed last week on a new record high."It could now face resistance at 11,410 points-level, while downside support is
at 11,071-points-mark," said Deepak Jasani, Head of Retail Research at HDFC Securities.Last week, the SP BSE Sensex and NSE Nifty50 closed
at their respective high levels on the back of healthy quarterly earnings and GST rate cuts on over 50 consumer items.Consequently, the
barometer 30-scrip Sensex of the BSE closed at 37,336.85 points -- up 840.48 points or 2.30 per cent from the previous close.Similarly, the
wider Nifty50 on the National Stock Exchange (NSE) settled at 11,278.35 points, higher by 268.15 points or 2.44 per cent -- from its
