US bond yields, crude oil prices, FII inflows among key factors that will guide market next week
On the macro front, the Industrial Production and Manufacturing Production data for January will be released on 12 March 2021.
Trend in global stock markets, the movement of rupee against the dollar and crude oil prices will dictate trend on the bourses in the near term. Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will be monitored.
The key thing to watch out for in the coming weeks would be the US bond yields because any rise in yields can take out the FII money from developing countries like India to western markets and could also be a risk for emerging markets currencies.
Key indices logged modest gains amid volatile swings during the week ended Friday, 5 March 2021. The Nifty index dropped below the psychological 15,000 mark. In the week ended on Friday, 5 March 2021, the Sensex surged 1,305.33 points or 2.66% to settle at 50,405.32. The Nifty 50 index soared 408.95 points or 2.81% to settle at 14,938.10. The BSE Mid-Cap index rose 609.15 or 3.05% to settle at 20,587.80. The BSE Small-Cap index jumped 780.67 points or 3.87% to settle at 20,936.02.
Updates related to COVID-19 will be closely watched. Also on the radar will be news on Covid vaccine development. From here on the pace of the improvement of economic indicators along with outcomes of a possible vaccine or cure for COVID-19 would determine the movement of the market.
Total COVID-19 confirmed cases worldwide stood at 11,55,97,805 with 25,69,011 deaths. India reported 1,76,319 active cases of COVID-19 infection and 1,57,548 deaths while 1,08,39,894 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
On the macro front, the Industrial Production and Manufacturing Production data for January will be released on 12 March 2021.
Overseas, China will announce inflation rate for February on 10 March 2021.
The US Non Farm Payrolls data for February will be announced on 5 March 2021.
US will announce inflation rate for February on 10 March 2021.
In Europe, the European Central Bank (ECB) will announce its interest rate decision on 11 March 2021.
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