Domestic shares have tumbled, marking a sharp turnaround since the BSE Sensex posted a record closing high on January 23, on the back of a rout in emerging markets and the Reserve Bank of India's unexpected hike in interest rates on Tuesday.
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The BSE Sensex is expected to take cues from overseas investor flows and the rupee after a US Federal Reserve taper-induced emerging market rout led the indexes to mark their lowest levels since November on Thursday.
Foreign institutional investors bought Indian shares worth a net USD 85.4 million in January, the smallest amount since they sold USD 902.5 million in August, when the rupee was hitting record lows against the dollar, exchange and regulatory data as of Thursday shows.
Domestic shares have tumbled, marking a sharp turnaround since the BSE Sensex posted a record closing high on January 23, on the back of a rout in emerging markets and the Reserve Bank of India's unexpected hike in interest rates on Tuesday.
Advance GDP forecast for the current fiscal year will be watched with the government expecting 5 percent growth while private economists expect the numbers to come in below that.
The next week would also mark the final leg of large cap earnings.
Anil Ambani group stocks including Reliance Capital would be on watch ahead of earnings in second half of the week.
Ambuja Cements and ACC results on Thursday.
KEY EVENTS/FACTORS TO WATCH
Monday: Earnings of Lupin , India mobile spectrum sale begins, January Manufacturing PMI (0500GMT)
Tuesday: Jubilant Foodworks , Bharat Forge results
Wednesday: Ranbaxy Laboratories , Power Grid Corporation of India results; Services PMI (0500GMT)
Thursday: Reliance Infrastructure , Ambuja Cements, ACC earnings
Friday: Tata Power , Reliance Capital, Reliance Communications earnings; Government to release advance GDP data for current fiscal year
via Business - Google News http://ift.tt/1fvFT4H
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