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| 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. |
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| | Previous Week : Indian equities closed in green for the fifth week in a row | |
| | Indian market traded in a narrow range during the previous week after strong up movement seen during the Budget week. Indian equities closed in green for the fifth week in a row. Lack of global cues and lower participation from retail investors kept market in that range. FIIs had been net buyers to the tune of nearly Rs. 11,000 crore from February 26, 2010 (Budget Day) to March 11, 2010. |
 | On a week-on-week basis, the BSE Sensex rose by 172 points, or |
| | | 1.01%, to close at 17166.62 |
|  | The S&P CNX Nifty, on the other hand, closed up by 50.10 points or |
| | | 1% to close at 5138.80 for the week |
| | Even the good index of industrial production (IIP) data for January |
| | 2010 was unable to become a trigger for the market. IIP grew 16.7% as against 1% in January 2009 |
| | All the sectors, except consumer non-durables, showed good |
| | growth. The major ones like manufacturing sector grew by 17.9% |
| | Week Ahead : Participants are still optimistic about further improvement | | | |
| | Despite the cautious undertone, the current rally in the market has been indicating that participants are still optimistic about further improvement. At every downfall, the market has been getting buying support. Investors will eye figures of advance tax payment by top Indian firms, which will give an indication of fourth quarter, March 2010 earnings. The fourth and the last installment of advance tax is due on March 15, 2010. |
| | | The market will also closely watch the data for monthly inflation for |
| | | February 2010 on Monday i.e. March 15, 2010 |
| | The headline inflation is seen surging near the 10% mark in February |
| | 2010 from a rise of 8.56% in January 2010 |
| | | Food prices will be keenly watched in the coming week |
| | Indian equities will continue to take cues from global stocks |
| | Investors are awaiting further insight into the state of the US |
| | economic recovery on Friday i.e. March 12, 2010 when data on US retail sales and consumer sentiment figures will be out |
| Sincerely, |
| ICICIdirect.com |
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