Sensex up 400 points, Nifty near 11,300; three key factors to watch out for

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Updated: March 12, 2019 11:51:50 AM

The market investors will keep an eye on  crucial vote on Theresa May’s EU deal which would also decide the future of Brexit. Besides that, the investors would be watchful of CPI and IIP (index of industrial production) to be announced today.

Share Market Live, Stock Market Live, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, Indian Share Market Live, Indian Stock Market LiveThere has been an uncertainty over Brexit for almost three years as of now.

The Sensex extended its rally on the second day of the week by opening higher by 275 points at 37,329.46, while the Nifty was trading near the 11,250-mark amid strong global and domestic cues. The market investors will keep an eye on  crucial vote on Theresa May’s EU deal which would also decide the future of Brexit. Besides that, the investors would be watchful of CPI or consumer price index and IIP (index of industrial production) to be announced today. Rupee’s future direction will also be tracked by the investors. We take a closer look:

Brexit deal: Today important vote on Theresa May’s EU (European Union)deal will take place in the House of Commons which would decide on Brexit deal and on the future of Prime Minister herself also. There has been an uncertainty over Brexit for almost three years as of now.

Also read: Lok Sabha polls and stock market: Do elections really matter for rally in Sensex, Nifty?

IIP, CPI numbers: The market investors will be keenly watching IIP and CPI numbers for the month of January and February respectively which are slated  to be released today. According to the poll by Bloomberg, the CPI numbers for the month of February are likely to be marginally higher than the previous month by 0.2%. In January, India’s headline inflation was at 2.05%. India’s industrial growth is likely to decline to 2.2% in January from 2.4% a month ago, according to Cogencis poll of 19 economists.

Rupee appreciation: The investors will keep an eye on rupee’s movement which strengthened its gains by 25 paise to 69.64 against the US dollar in early trade on Tuesday, on the back of sustained foreign fund inflows and weaker greenback against key rival currencies overseas. Besides, selling of US dollar by exporters and banks also led to higher rupee. At the Interbank Foreign Exchange, the rupee opened at 69.73 against the US dollar and advanced to 69.64, showing a rise of 25 paise over the previous close.

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