The week ahead: Macro data to drive the markets ahead…

Led by the continuing carnage in PSU Banking stocks, the India benchmark indices – the Sensex and the nifty closed at 33,307 and 10,227. The selloff in metal stocks and weak global sentiments further added fuel to the Indian markets making the sentiments bearish.

Going ahead, there is a slew of economic data to be released and the market movements are likely to be influenced by these numbers which includes – IIP data for January 2018 and inflation numbers for February. The markets are also likely to be influenced by the outcome of the GST meeting that concluded on last Saturday. Other factors that are likely to influence market movements include – crude oil movement and US CPI data for February.

Overall, the present scenario does not look cheerful. The stock indices show a downward tilt and it is likely to continue the downward movement in the short term.

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