Stock markets can be pushed by quarterly earnings by index majors, international developments and the RBI’s rate of interest choice this week after digesting information on finances proposals and US Federal coverage consequence, say analysts.

The buying and selling exercise of overseas traders and the motion of worldwide oil benchmark Brent crude would additionally dictate developments in equities.

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“On the home entrance, the MPC (Monetary Policy Committee) assembly is scheduled from February 6-8. The Q3 quarterly outcomes season will proceed to stay in focus. Bharti Airtel, Power Grid, Nestle, Lupin and Tata Power will announce their outcomes this week,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.

Market participants will be keeping an eye on the movement of the rupee against the dollar and crude oil prices, Gour said.

Investments by Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) will also be monitored, he added.

“With the US Fed and interim Budget now behind, all eyes will be on RBI’s policy meeting this week,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, mentioned.

Last week, the BSE benchmark jumped 1,384.96 factors or 1.95 per cent, and the Nifty climbed 501.2 factors or 2.34 per cent.

On Friday, the Nifty reached its lifetime peak of twenty-two,126.80.

The market focus can be on the continued Q3 FY24 earnings season, with many firms asserting their ends in the approaching days equivalent to Ashok Leyland, Bharti Airtel, Apollo Tyres, Nestle, Grasim, LIC, mentioned Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd.

“The market will react to main home and international financial information, crude oil inventories, FII/DII funding sample, and motion of rupee towards the greenback. Economic numbers will impression the market equivalent to S&P international companies PMI of nations like India, UK, US, preliminary jobless claims, China’s inflation numbers and India’s rate of interest choice,” Nanda added.

The tone was positive for the most part of the last week amid favourable global cues and buying in select heavyweights.

“We expect volatility to remain high this week as well and the focus will be on earnings and RBI meet for cues. On the global front, the steady uptrend in the US markets will continue to favour the bulls,” mentioned Ajit Mishra, SVP – Technical Research, Religare Broking Ltd.