Market Weekahead - India shares may weaken on RBI measures
Reuters Market Eye - Indian's equity markets are likely to remain under stress on the back of the latest RBI measures to drain out liquidity from the market.
Reserve Bank of India announced more liquidity tightening measures after markets closed on Thursday to address volatility in the foreign exchange markets.
The Nifty has lost 7.3 percent since the central bank first announced the liquidity draining measures on July 15.
Morgan Stanley said RBI's cash tightening measures last month have made shares much more vulnerable to global cues.
Companies will also continue to report earnings, including Oil and Natural Gas Corporation , State Bank of India and Mahindra and Mahindra .
KEY FACTORS/EVENTS TO WATCH
Monday:
Industrial production data at 1730 India time (1200 GMT)
Consumer price inflation at 1730 India time
Manufacturing output data at 1730 India time
Earnings: DLF Ltd , Oil and Natural Gas Corporation
Ltd , Indian Hotels Company Ltd ,
State Bank of India
Tuesday:
Indian Oil Corporation Ltd , Mahindra and Mahindra
Ltd .
Wednesday:
Wholesale price inflation data at noon (0630 GMT)
Earnings: Essar Oil Ltd , United Breweries Ltd
, Wockhardt Ltd .
Thursday:
National Holiday
Friday:
Foreign exchange reserves data at 1700 India time
(Reporting by Himank Sharma)