‘RBI interest rate decision, global trends to drive equity markets this week’

New Delhi: RBI’s interest rate decision, macroeconomic data and global trends would dictate terms in the equity market in a holiday-shortened week, analysts said.

Besides, the focus will also be on foreign portfolio investors’ ing activity, they added.

Equity markets will remain closed on Tuesday for ‘Mahavir Jayanti’ and on Friday on account of ‘Good Friday’.

“Investment by FIIs, who are turning out to be small net buyers, and DIIs will be monitored. The market will also have an eye on the RBI MPC meeting. The RBI policy outcome is scheduled for April 6,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.

From auto sales data, Maruti Suzuki, Hyundai and Tata Motors reported their highest-ever dispatches to dealers last fiscal, enabling the domestic passenger vehicle industry to log in the best-ever performance to date.

“This week is also a holiday-shortened one and scheduled events and data would keep participants busy. On the macroeconomic front, S&P global manufacturing PMI and services PMI data are scheduled on April 3 and April 5. The key highlight would be the outcome of the MPC policy review meet on April 6.