Stock markets wary ahead of IIP, inflation data, NSE Nifty ends flat
The 50-share index fluctuated widely between a high of 5,971.20 and a low of 5,930.35 before ending at 5,942.35, down 3.35 points, or 0.06 per cent, from the last close. Financial markets across the globe saw a spectacular relief rally last week, driven by a string of data painting a brighter picture of the US economy with the Dow Jones setting a new historic high.
The Nifty spurted nearly 4 per cent to top fresh one- month high last week on the back of improved global sentiments amid expectations of rate cuts by RBI in its mid-term policy review meeting on March 19.
After a positive start, the key index mostly traded in a tight range while struggling to remain in positive territory as investors turned cautious ahead of tomorrow's industrial output data and inflation numbers later in the week.
Tail-end buying helped the market to regain some lost ground with buying seen in healthcare, FMCG and infra-related stocks, but heavy profit-taking in technology, finance, auto, metal and energy scrips led the market to end in the red.
A positive sentiment exists among retail investors after the Budget and today's positive data on exports also supported the market to some extent, traders said.
Asian stocks ended on a mixed note. HeroMoto Corp, Bajaj Auto, IDFC, Wipro, TCS, Reliance
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