Stock markets this week will largely be dictated by macro-economic data, foreign fund flows and global cues, say experts.
“Inflation and advance tax collection data will set the trend for the market this week. Data on inflation based on the consumer price index (CPI) and the wholesale price index (WPI) for February will be announced on Monday,” said Vijay Singhania, Founder-Director, Trade Smart Online.
Meanwhile, industrial output for the third month in a row remained in the negative territory, contracting 1.5 per cent in January. “Market in the near term will depend on CPI and WPI data to be announced on Monday and also take cues from the trend in global markets, investment by foreign portfolio investors and movement of crude oil prices,” said Rohit Gadia, Founder & CEO, CapitalVia Global Research ltd.
The 2-day policy meeting of the US Fed on March 15-16 may also influence trading.