Some of the factors that might influence the markets on Monday are policy rate hikes by US Federal Reserve, the Bank of England and the report of the Reserve Bank of India that might come out next week on why it failed in maintaining the inflation mandate.
Reserve Bank of India will hike the repo rate by 45 to 50 basis points, Punjab and Sind Bank Managing Director Swarup Kumar Saha on Saturday as the Bank of England has increased its interest rate. Punjab and Sind Bank is expecting a hike of 50 basis points in the Repo Rate.
The meeting was called on Thursday under Section 45ZN of the Reserve Bank of India (RBI) Act 1934, which pertains to steps to be taken if the central bank fails to meet its inflation-targeting mandate.
Among the Nifty 50 stocks, Tech Mahindra, Hindalco, Wipro, Coal India, and Infosys were the top five losers, declining in the range of 1-2 per cent each, National Stock Exchange data showed.
The president of the industry body on Wednesday said calibrated efforts undertaken by the government and Reserve Bank of India (RBI) have significantly impacted the escalation in the wholesale prices.
While addressing FIBAC 2022 Conference, the Reserve Bank of India Governor on Wednesday said, "Our constant endeavour is to keep an eye on inflation, which is our primary target."
While addressing FIBAC on Wednesday, Governor Shaktikanta Das said, "Yesterday, we launched the trial of our digital currency, Central Bank Digital Currency (CBDC) project. It was indeed a landmark moment in the history of currency in our country. Going forward, it will be a landmark moment.