The Reserve Bank Of India's mid-quarter monetary policy review on Monday will lend direction to the stock market next week and to interest rate-sensitive auto shares next week. Even though Thursday's hike in diesel price could add to inflationary pressures, market participants believe the Reserve Bank of India will now have room to lower interest rates.
India's central bank has been stressing for some time now that an improvement in India's fiscal consolidation position is key for a rate move. On Thursday, oil-marketing companies raised the price of diesel by 5 rupees per ltr. While kerosene and petrol prices were left untouched, excise duty on petrol was cut by 5.5 rupees a ltr. Sales numbers of Tata Motors' Jaguar and Land Rover are likely to come over the weekend that would be the key driver for the stock next week. By RUPEE DESK [email protected] -- You received this message because you are subscribed to the Google Groups "Kences1- Rupeedesk" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/kences1?hl=en.
