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The markets are closed today for Gandhi Jayanti.
“Going ahead, we expect the focus to shift to RBI’s policy and upcoming quarterly results and globally, on unwinding of balancesheet by the US Fed and the oil prices trend,” said Teena Virmani, Vice-President – PCG Research, Kotak Securities.
PMI (Purchasing Managers’ Index) data on manufacturing and services sectors, due this week, are also key determinants for the market movement, experts added.
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Foreign investors continued to be in exit mode as they pulled out over Rs 11,000 crore from stock markets in September.
Market participants are now primed for the upcoming RBI policy review slated for October 3-4.
“RBI policy meet is the key event to watch out for this week,” said Vinod Nair, Head of Research, Geojit Financial Services.
Both the Sensex and the Nifty suffered weekly losses for the third time this month, down 638.72 points, or 2 per cent, and 175.80 points, or 1.76 per cent, respectively, over the past week.