Urjit Patel taking charge as RBI Governor on 6 September
With Raghuram Rajan's tenure as RBI Governor seeing an end after he announced his decision to step down from taking up a second term, Urjit Patel will take over the reins as his successor on Tuesday. The change in the central bank chief is expected to trigger market movements across the country. Urjit Patel will look to curb inflation and tidy banks' balance sheets.
US payrolls data fail to beat expectations
The United States' payrolls reports reflected data that failed to beat market expectations, estimated to impact market movements across the globe. Although Indian equity market will have reacted to the data only by Tuesday, a global equity market reaction is anticipated tomorrow. The lower data is expected to weaken chances for a rate hike during the US Federal Reserve meet.
Urjit Patel taking charge as RBI Governor on 6 September
With Raghuram Rajan's tenure as RBI Governor seeing an end after he announced his decision to step down from taking up a second term, Urjit Patel will take over the reins as his successor on Tuesday. The change in the central bank chief is expected to trigger market movements across the country. Urjit Patel will look to curb inflation and tidy banks' balance sheets.
Financial results to impact equity markets
A list of companies such as Chennai Petroleum Corporation, Oil and Natural Gas Corporation, GAIL, Coal India, BHEL and SAIL are set to announce their quarterly financial results this week. The quarterly results are expected to chart market movements, including spotting a volatile trend across the week. With the companies' shares expected to react to market sentiments this week, their results are highly anticipated.
Market movements to be impacted by index factors
Market experts and analysts anticipate that the equity markets would react to index movements, signalling the need to buy or sell shares. The current positive trends in Nifty are estimated to continue this month, as long as the index holds good above the 8,750 mark. Analysts stated that is the market were to slide towards 8,750 or below, from 8,800, stock purchase is recommended.
Data on manufacturing and services to impact market movements
With data on the services and manufacturing readings across China and Europe being closely followed, market movements are anticipated this Monday. Nikkei's report on the domestic services data for August is also expected to come out on Monday, with market experts tracking the figures. Analysts have pitched the estimated figure at 52.3, which is higher than the previous figures posted.
