RBI’s monetary policy review, key macroeconomic data and progress of monsoon rains would influence market sentiment this week, say experts.
“Major part of the earning season is over. Stocks have already reacted sharply to the numbers and have been now thoroughly discounted. The biggest factor that the market will look forward is how efficiently the GST will be implemented,” SAMCO Securities CEO Jimeet Modi said.
“The extent of monsoon will also have an impact on the market. Outcome of RBI monetary policy committee meeting this week would guide the direction of the market in the near term,” he added.
Sector-specific movement can be seen following the GST Council meeting on Saturday.
The Council cleared the pending rules, including transition provisions and returns, with all the states agreeing to July 1 rollout of the Goods and Services Tax.