WEEKLY EQUITY MARKET REPORT-21 MARCH 2015

Nifty Futures Tips

INDIAN BENCHMARKS edged lower in the week ended Thursday, March 13, 2015. The market logged losses in four out of the five trading sessions of the week. Markets declined on weak global cues. The sentiment was adversely hit by expectations that the US Federal Reserve may raise interest rates sooner than previously thought which would result in funds moving away from the emerging markets. Also, Greece worries bubbled to the surface again.

Further, CPI inflation inches up to 5.37% for February – The CPI inflation inched up to 5.37% Vs 5.11% MoM, marginally higher than estimates.

The INDIAN BENCHMARKS declined 945.65 points or 3.21% to 28,503.30. The 50-unit CNX Nifty fell 290 points or 3.24% to 8647.75.

GLOBAL MARKET CHASE
ASIAN STOCKS shook off early losses underpinned by overnight gains on Wall Street, while the dollar steadied after its recent rally ran out of steam on disappointing retail sales  data. 

U.S. STOCKS futures poised for a higher opening at the Wall Street on Friday. 

EUROPEAN STOCKS was set for its longest streak of weekly gains since 1998 as traders added to their bets on an economic recovery in the euro zone, aided by a weak euro.

WEEK AHEAD
In the coming week, corporate advance tax data for the fourth and final installment of 15 March, data on inflation based on the wholesale price index for February 2015, trend in global markets, investment by foreign portfolio investors (FPIs), the movement of rupee against the dollar, crude oil price movement and developments in the ongoing budget session of Parliament will dictate the near term trend on the bourses.  

Among global events, a two-day meeting of the Federal Open Market Committee (FOMC) to review US monetary policy is scheduled on 17-18 March 2015. Although no rate changes are expected this time, investors will closely be watching Federal Reserve Chairwoman Janet Yellen's press conference for any hints on how patient the central bank will be before tightening its monetary policy. 

On the macro front, the government will unveil data on inflation based on the wholesale price index for February 2015 on Monday, March 16, 2015. 


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