INDIAN BENCHMARKS scaled record high above the psychological 30,000 mark and the 50- unit CNX Nifty also scaled record high above the psychological 9,000 mark on Wednesday, 4 March 2015 after the Reserve Bank of India (RBI) surprised financial markets by announcing a reduction in its benchmark lending rate viz. the repo rate by 25 basis points in an unscheduled monetary policy review.
Further, The HSBC Manufacturing Purchasing Managers' Index, compiled by Markit, fell for the second consecutive month, to 51.2 in February from 52.9 in January.
The INDIAN BENCHMARKS Sensex advanced 68.22 points or 0.23% to settle at 29,448.95, its highest closing level since 3 March 2015.
GLOBAL MARKET CHASE
Further, The HSBC Manufacturing Purchasing Managers' Index, compiled by Markit, fell for the second consecutive month, to 51.2 in February from 52.9 in January.
The INDIAN BENCHMARKS Sensex advanced 68.22 points or 0.23% to settle at 29,448.95, its highest closing level since 3 March 2015.
GLOBAL MARKET CHASE
ASIAN STOCKS Asian stocks will on Monday, 9 March 2015 react to US nonfarm payroll data for February 2015 which the US government will announce on Friday, 6 March 2015.
U.S. STOCKS futures poised for a higher opening at the Wall Street on Wednesday.
EUROPEAN STOCKS trimmed their gains morning after Market's final February Composite Purchasing Managers' Index (PMIs) came at 53.3, weaker than a preliminary estimate of 53.5.
WEEK AHEAD
In the coming week, macro economic data, trend in global markets, investment by foreign portfolio investors (FPIs), the movement of rupee against the dollar, crude oil price movement and developments in the ongoing budget session of Parliament will dictate trend on the bourses.
The Budget session of the parliament assumes utmost importance as the government intends to replace the ordinances it had promulgated after the conclusion of the winter session of the parliament with Bills and get them cleared by both Houses of Parliament during the budget session.
Among macro economic data, The government will unveil industrial production data for January 2015 on Thursday, 12 March 2015. The government will release the combined
consumer price index (CPI) data (rural/urban) for February 2015 on the same day.
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