RBI policy, macro data key for markets in holiday-shortened week: Analysts

The RBI's interest rate decision, key macroeconomic data points and global trends would drive the market in a holiday-shortened week ahead, say analysts.

Markets would remain closed on Wednesday for Id-Ul-Fitr.

Meanwhile, official data released after market hours Friday showed that India's economic growth rate slowed to a five-year low of 5.8 per cent in January-March 2018-19 due to poor performance of agriculture and manufacturing sectors.

The eight core sector industries too witnessed a slowdown in April, with growth rate slipping to 2.6 per cent.

There was, however, some relief on the government finances front, as the fiscal deficit for 2018-19 remained within the revised Budget target of 3.4 per cent of the GDP.

Markets may react to these numbers Monday, but slowing GDP growth has increased the chances of a rate cut by the RBI on June 6, which will be welcomed by participants, analysts said.

"On global front, US-China trade wars along with rise in oil price will determine further .