BSE Sensex, Nifty 50
RBI policy, TCS earnings and crude prices to steer market moves this week
Market direction this week will be shaped by the RBI's monetary policy decision, TCS quarterly earnings and crude oil price trends, analysts said. The policy stance, inflation outlook and growth projections from the RBI meeting will offer cues on near-term interest rates and financial market trajectory. Macroeconomic data releases and foreign investor activity will also guide market trends.
This week marks the start of the earnings season, with index heavyweight TCS and retail major DMart scheduled to announce results. TCS is set to declare its September quarter earnings on October 8. On the data front, India's final HSBC Services PMI and Composite PMI readings for September will be released on October 6.
Crude oil remains a key concern, with Brent trading above USD 100 a barrel intensifying pressure on India's external balances and inflation outlook. Geopolitical uncertainty continues to keep energy risk premiums elevated. Global bond yields will also influence risk appetite, with a moderation in US Treasury yields potentially easing pressure on emerging-market assets and supporting foreign flows.
Indian equities ended lower for the eighth consecutive week due to foreign selling, rupee weakness, elevated crude prices and rising global bond yields. Last week, the Sensex fell 1,986.04 points or 2.68 per cent, and the Nifty dropped 718.55 points or 3.10 per cent. In September, the BSE benchmark lost 4,476.98 points or 5.81 per cent, while the Nifty declined 1,459.95 points or 6 per cent.
The RBI's policy decision will be the principal domestic trigger. Subsequently, the US Federal Open Market Committee minutes will provide insights into the extent of support among US policymakers for further monetary tightening beyond the September rate increase.
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