Weekahead - RBI rate decision key for shares

Reuters Market Eye - The Sensex and Nifty look susceptible to consolidation after marking their first weekly fall in four with foreign investors booking profits and as caution prevails ahead of the central bank's policy review on June 3.

A Reuters poll predicts interest rates would be kept on hold by the RBI on June 3.

GDP for Jan-March period came at 4.6 percent compared to Reuters forecast of 4.8 percent, which dealers say would help the case of at least status quo or some form of easing by the Reserve Bank of India.

Overseas investors sold shares worth of 5.23 billion rupees ($88.6 million) on Thursday, provisional exchange data showed, extending their selling streak for a fourth consecutive session.

Also, with Jan-March earnings season behind, traders keenly await revised earnings estimates for the Indian market.

KEY EVENTS/FACTORS TO WATCH

Mon: HSBC Markit Manufacturing PMI for May

Tues: RBI's policy review at 11 a.m., IDFC board meeting.

Wed: HSBC Markit Services PMI for May

(Reporting by Abhishek Vishnoi)