WEEKLY EQUITY MARKET REPORT-02nd MARCH TO 07th MARCH 2015

 
INDIAN BENCHMARKS ended on a positive note after Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit.

Further, India will reduce tax on businesses to 25% over 4 years from a current 30%, with a view to boosting spending and job creation, Finance Minister Arun Jaitley said on Saturday, The INDIAN BENCHMARKS Sensex surged 141 points at 29362 and the 50-share Nifty soared 57 points to close at 8902.

GLOBAL MARKET CHASE

ASIAN STOCKS were largely stronger after US inflation data renewed speculation of an interest rate hike, advancing despite disappointing Japanese figures that challenged Tokyo's war on falling prices.

U.S. STOCKS ended lower after economic growth was slower than expected during the fourth quarter. However, the broader S&P 500 recorded its best monthly gain since October 2011.

EUROPEAN STOCKS surged to fresh seven-year highs ahead of the European Central Bank's monetary easing measures. Further, encouraging corporate earnings also boosted sentiment.

WEEK AHEAD
In the coming week, Industry expectations ahead of Union Budget 2015-16, Railway Budget 2015-16, trend in global markets, investment by foreign portfolio investors (FPIs), the movement of rupee against the dollar, and crude oil price movement will dictate trend on the bourses

The market may remain volatile next week as traders roll over positions in the futures & options (F&O) segment from the near month February 2015 series to March 2015 series. The near month February 2015 derivatives contract expired on Thursday, 26 February 2015.

Among macro economic data, India will meet a 'challenging' fiscal deficit target of 4.1 percent of its gross domestic product (GDP) in the year to March 31, Finance Minister Arun Jaitley said.

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