With the continuation of geopolitical tensions in the West Asia region, Indian equity markets once again saw a knee-jerk reaction on October 04. Last week, markets fell continuously on global cues. However, the question arises will markets follow the same path or recover some losses? Here are the top cues to watch for October 07’s trading session:
RBI Policy This Week
The lender of the resort will publish the result of the three-day Monetary Policy Committee on October 09. Earlier, the US Fed cut higher-than-expected interest rates by 50 bps. After which, all eyes are stuck on RBI to slash key lending rates.
Earnings on Monday
Himalaya Food International, Shrenik, Padam Cotton Yarns, Genomic Valley Biotech, and Orosil Smiths India will release their quarterly earnings on October 07.
Escalated Tensions in West Asia
Israel has bombarded the Jabaliya area in the north of Gaza, killing at least 17 people, including nine children. Hamas retaliated with rockets firing from northern Gaza and crossed into southern Israel on Sunday, a day ahead of the first anniversary of Hamas’s October 7, the Israeli military said.
Markets Recap
On October 04, the Nifty 50 declined 235 points or 0.93% to close the session at 25,014 while the Sensex tanked 809 points or 0.98% to end the day at 81,688. The Bank Nifty closed 383 points or 0.74% lower at 51,462. The Nifty Midcap 100 lost 550 points or 0.93% closing the day at 58,474.