Mkts to focus on state elections outcome, RBI’s rate decision: Analysts

Global trends, trading activity of foreign investors, outcome of state elections and RBI’s interest rate decision are the major factors that will drive the movement in the domestic equity markets this week, analysts said.
“Global markets are currently in a fabulous mood. The US 10-year bond yield and the dollar index are also cooling off, which gives strength to the market. These factors will be closely monitored, as they have the potential to influence market sentiment,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
On the political front, the results of assembly elections in five states are eagerly anticipated, Gour said.
“A stable political environment could boost investor’s confidence and drive the markets higher. Domestic and global macroeconomic data, trends in global stock markets, the movement of the rupee against the dollar, and crude oil will also dictate trends,” he added.
From the macroeconomic data front, PMI (Purchasing Managers’ Index) data fo