Domestic macroeconomic data, RBI policy and developments related to the Russia-Ukraine war would be major driving factors for stock market this week, analysts said. Moreover, FPI investment and trends in crude oil would also influence trading sentiment, they added.
"This week, the RBI credit policy will be a critical factor for Indian markets. It will be important to see how FIIs will behave in FY23 after relentless selling in the second half of FY22. However, they have changed their gear in last week," said Santosh Meena, Head of Research, Swastika Investmart Ltd.
"With beginning of new fiscal year, markets will be closely eyeing the MPC's monetary policy review outcome scheduled on April 8. On macro front, participants will be eyeing manufacturing and services PMI data on April 4 and April 6, respectively.
"Amid all, global cues viz updates on Russia-Ukraine war, and movement of crude will remain in focus," said Ajit Mishra, VP Research, Religare Broking. Mishra added that markets are moving largely in sync with their global counterparts and positive developments on Russia-Ukraine front could further fuel rebound."We expect stock-specific moves on earnings expectations," he noted.
