Due to the festival of Holi, the holiday in the Indian market is set for a short week. Sensex and Nifty 50 gained nearly one per cent each last week following strong bullish sentiment driven by large foreign fund inflows in some leading Adani companies. In the week between March 6 to 10, global markets will play a key role in determining the performance of domestic equities, especially Wall Street. Besides, IIP data as well as inflow of foreign institutional investors will also impact the markets.
BSE and National Stock Exchange have listed March 7 (Tuesday) as a holiday on account of Holi.
Industrial production data for the month of January will be released after the market opens on Friday.
Market investors will also watch the movement of the rupee against the US dollar and Brent crude oil.
“This week is holiday-short and we expect volatility to remain high citing mixed signals. On the data front, participants will eye the IIP data scheduled for March 10. Besides, global indices, especially The performance of US markets will remain in focus for signals,” said Ajit Mishra, VP – Technical Research, Religare Broking Ltd.
Last week, the BSE benchmark climbed 345.04 points or 0.58 per cent. The markets were highly volatile last week but managed to close higher on Friday amid a sharp rebound.
The BSE Sensex closed at 59,808.97 on Friday, up 899.62 points or 1.53 per cent.
Know your inner investor
Do you have guts of steel or are you a victim of insomnia regarding your investments? Let’s define your investment approach.
catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.