Sensex To Take Cue From RBI Policy, US Jobs Data Next Week

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This week was a volatile weak even as we saw a good rally on Wednesday. It was a truncated week with markets closed on Thursday and Friday for Mahavir Jayanthi and Good Friday.

Sensex To Take Cue From RBI Policy, US Jobs Data Next Week
IT stocks took a hammering in trade with worries that results could be poor on the strengthening of the dollar.

On Wednesday stocks like Infosys, TCS, HCL Tech and Wipro saw decent cuts. There are worries that we may see further price damages next week. Action is now shifting to banking stocks and we saw a sharp recovery in some of the PSU banking names.

Benchmark indices are expected to remain volatile next week, as global markets digest a weakish US Jobs data.

They would also be looking for the RBI Monetary Policy, even though the country's central bank is expected to widely hold interest rates steady. Despite this markets would try to read into comments of the monetary policy for hints on future interest rate cuts.

To begin with markets on Monday would digest a weakish jobs data in the US. Indian markets could gain given that poor US jobs data means that the US Federal Reserve would delay an interest rate cut beyond June.

This could push global indices higher on Monday and hence the Indian markets. It's likely to be a volatile session though given the fact that global cues would be important.

GoodReturns.in

Read more about: sensex, rbi, us jobs data
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