Market Outlook: Macroeconomic data to set trend in holiday-shortened week

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New Delhi | Updated: April 10, 2016 10:34:57 AM

The next major trigger for the markets will be the fourth quarter earnings, which will start with IT major Infosys announcing its results on Friday.

Sensex - challenges aheadMarket will remain shut on Thursday on account of Baba Saheb Ambedkar Jayanti and on Friday for Ram Navami. (reuters)

Macroeconomic data, IIP and inflation numbers will set the trend for the stock market in a holiday-shortened week ahead, say experts.

Moreover, investment trend by overseas investors, crude oil price and rupee would also influence trading.

Market will remain shut on Thursday on account of Baba Saheb Ambedkar Jayanti and on Friday for Ram Navami.

“Macroeconomic data will determine sentiments this week. Trading is expected to be volatile in a truncated session as participation from institutional investors is expected to be limited,” said Vijay Singhania, Founder-Director, Trade Smart Online.

The next major trigger for the markets will be the fourth quarter earnings, which will start with IT major Infosys announcing its results on Friday.

“We believe the upcoming earning season will provide the needed trigger for directional move to the markets in the coming weeks,” he added.

On key macroeconomic announcements, industrial production data for February will come out on Tuesday as also the consumer price index (CPI) data for March.

“A short-week and a mid-week holiday will keep positions light. Also, we will start getting cues from the results season,” said Ravi Shenoy, VP-Midcap Research, Motilal Oswal Securities.

Last week, markets ended in the red as the BSE benchmark Sensex and NSE Nifty fell by 2 per cent each to a three-week low at 24,673.84 and 7,555.20, respectively.

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