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October 6, 2024 7:25 PM

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Indian markets rattle by tensions in Middle East; RBI’s MPC meeting to held from Oct 7- 9

The Indian markets will focus on events like the RBI monetary policy meeting, corporate earnings, geopolitical tensions, and US inflation to take cues next week. The counting of votes on October 8 for both the Haryana and Jammu and Kashmir assembly elections will also be watched.

 

The Indian markets were rattled by the tensions in the Middle East, dragging the benchmark indices down nearly 4.5 percent for the week. The market was also worried due to the jump in oil prices after the rise in Middle East tensions. The Sensex plunged 3,883 points to 81,688, and the Nifty declined 1,164 points to 25,015.

 

After the higher-than-expected cut in interest rates as well as the hint about more rate cuts going ahead by the US Federal Reserve, all eyes will be on the conclusion of the three-day Monetary Policy Committee meeting of the Indian central bank on October 9. The next key event to focus on would be the September quarter earnings season starting next week with TCS, Avenue Supermarts, and IREDA.