Weekly E-Magazine : S&P upgrades India's outlook from negative to stable

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 : Indian markets continued its upward rally   Indian market continued its upward rally for the sixth week in a row for the first time since Mid March-Mid June 2009. Also, both the indices closed at their respective two months high during the previous week. The week started on a weak note, on profit booking however, recovered sharply the very next day. Though the positive sentiment remained intact for the rest of the week, the intra-day movement remained choppy towards the end of the week. On a week-on-week basis, the BSE Sensex rose by 411 points, or     2.4%, to close at 17578.23. The S&P CNX Nifty, on the other hand, also closed up by 126 points   or 2.45% to close at 5262.80 for the week Global markets too remained positive overall with no surprise from   US Fed as expected The out performance of the developed markets continued in the   previous week too   Week Ahead : Volatility may be seen during intra-day movement     The market breadth has been positive since the union budget and the FIIs also have been pouring money into the Indian equities on a sustained basis. Except the inflationary worries, which came at 9.89% for the month of February, other economic parameters are looking stable at this point. The rating agency, Standard and Poors also upgraded Indias outlook from negative to stable during previous week which provided some support to the financials.   Despite all these, the market seemed to have lost some momentum     during the end of the previous week and that may put some pressure on the indices during the coming week Also, the next week will be a holiday- shortened one with monthly   derivatives expiry due on Thursday. Thus, volatility may be seen during the intra-day movement   The Nifty is likely to remain under the 5300 mark with support seen at   around the 5200 level Among the global cues US Q4 GDP data is due on the last trading day of the coming week Sincerely, ICICIdirect.com Did you know : You can generate your Password Online in 3 easy steps. Click here to know more.