RBI policy, GDP data to set tone for market this week

Parliament is taking up the long overdue GST Bill this winter session

RBI monetary policy review on Tuesday, outcome of September quarter GDP data and developments related to GST Bill in the ongoing Winter Session of Parliament would drive the market sentiment this week, say experts.

GDP data for September quarter would be announced on Monday.

Besides, investors would monitor the monthly sales data announcement from auto companies starting Tuesday.

"Investors are hopeful that GST will see the light of the day during the Winter Session of Parliament. Trend in global markets, investment by foreign investors, movement of rupee against the dollar and crude oil prices will dictate trend of the market", said Rohit Gadia, Founder & CEO, CapitalVia Global Research.

RBI would announce its fifth bi-monthly monetary policy review on Tuesday.

"It is expected that RBI will keep the rates unchanged", Gadia added.

The government needs Parliament approval for the GST Bill in the ongoing Winter Session to roll out the new indirect tax regime, as planned, from April 1, 2016.

Over the past week, the BSE benchmark Sensex has gained 259.71 points to end at 26,128.20.

"Investors are keenly watching the updates from RBI's monitory policy and ECB's policy meet this week", said Vinod Nair, Head Fundamental Research, Geojit BNP Paribas Financial Services.