Weekly E-Magazine : Sensex up 565 points on back of strong Union Budget

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 : Market continue positive momentum taking positive cues from the Union Budget.   Indian market continued its positive momentum for the fourth week taking positive cues from the Union Budget. In the holiday shortened week, Indian equities rallied during the early part of the week. However, traders were cautious in the last two days of this week after seeing a rally of nearly 750 points on the Sensex since the Budget day. On a week-on-week basis, the BSE Sensex rose by 565 points, or     3.4%, to close at 16994.49 The S&P CNX Nifty, on the other hand, closed up by 166 points or   3.4% to close at 5088.70 for the week The recent global economic data was mixed Sovereign debt problems in the euro zone continue to haunt global   markets The recent economic data in India showed a surge in manufacturing   and services activity in February and rise in exports for the third consecutive month in January 2010   Week Ahead : Market enters consolidation phase after a strong post budget rally   Indian stocks may eye global cues in the absence of major domestic triggers as the market enters a consolidation phase after a strong post budget rally. The market will closely follow the public offer (FPO) of NMDC that is scheduled to open for subscription on Wednesday, March 10 2010.   The government will announce the industrial output data for January     2010 on Friday, March 12, 2010   The data is expected to be robust after the infrastructure sector   output, which accounts for 26% of the industrial output, showed a growth of 9.4% in January 2010 from a year earlier. Industrial output grew 16.8% in December 2009   The food price index rose 17.87%, faster than the annual rise of   17.58% in the previous week. Food inflation data in the 12 months to February 27, 2010 will be announced on Thursday, March 11, 2010, followed by the inflation figure for February 2010 on March 15, 2010 Sincerely, ICICIdirect.com Did you know : Now resolve your queries instantly by using Insta Help - A self help tool.