Sensex, Nifty this week: From RBI’s interest rate decision to US trade balance, factors that may drive Dalal Street

In the passing week, Indian markets posted hefty gains amid a growth-oriented budget from the government. Besides, positive macroeconomic data boosted the sentiments.

This week, investors will be focusing on the remaining quarterly results of some major companies across the sectors. Besides RBI’s interest rate decision, deposit growth and bank loan growth data in India, along with initial jobless claims, and balance of trade in the US are major market events that will keep the markets buzzing.

Quarterly results: This week, several companies are scheduled to release their quarterly earnings. From the healthcare and pharma sector, Fortis Healthcare, Lupin, Apollo Hospitals Enterprise, Biocon, and Zydus Lifesciences will announce the results.

Insurance behemoth LIC will also release its Q3 results. Besides these, Ashok Leyland, Bharti Airtel, Britannia Industries, Godrej Properties, Apollo Tyres, Cummins India, Nestle India, Power Grid Corporation of India, Escorts Kubota, Grasim Industries, MRF, PI Industries, SJVN, and Tata Power will be announcing their Q3 numbers.

Economic data: On the economy front, investors would be eyeing the data of HSBC Composite PMI Final and HSBC Services PMI Final, which is scheduled to be release on February 5.

Traders would also be waiting for the Reserve Bank of India (RBI) interest rate decision, which will be announced on February 8. RBI held its benchmark policy repo at 6.5% for the fifth consecutive meeting in December 2023 to ensure inflation stays within the central bank’s 2-6% target range while supporting growth.