Equity Pulse : Markets extend 3rd straight week of losses

Dear Kundapur Govardhana Kini, We understand the need for the right research to make smart  investment decisions. To keep you well informed, we present the market outlook for this week.   Previous Week : Markets extend losses for 3rd straight week   Indian equities extended their losses for the 3rd straight week. World stocks fell as Europe sovereign debt, indications of weak US jobs data and a crash in commodity and energy prices raised fresh concerns over global economic recovery. Indian market saw a small recovery during the initial part of the week     but heavy selling emerged during the last two days of the week as it closed near the low of the week On a week-on-week basis, the BSE Sensex slipped off 567 points or     3.5%, to close at 15790.93. The S&P CNX Nifty, on the other hand, was down by 167.3 points or 3.4% to close at 4714.75 for the week Metals, realty and banking witnessed heavy selling during the last week trade   Week Ahead : Concerns of further correction renews..   The consecutive three weeks of fall in the market has renewed the concerns of further correction. The market will closely follow global developments after worries about fiscal woes in Europe.   In India Centre of Statistical Organization (CSO) will, on Monday     January 8, 2010 release advance estimates of GDP growth for 2009-10   The government will announce the industrial output data for the     month of December 2009 on Friday, February 12, 2010. The industrial output rose 11.7% in November 2009   The government will also unveil data on some wholesale price     indices The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have decided to hold a special trading session on Saturday, February 6, 2010. Trading will begin at 11:00 IST and end at 12:30 IST Sincerely, ICICIdirect.com Did you know : Now you can view Research Recommendations on your Portfolio Page.