INDIAN BENCHMARKS edged lower in the week ended Thursday, March 13, 2015. The market logged losses in four out of the five trading sessions of the week. Markets declined on weak global cues. The sentiment was adversely hit by expectations that the US Federal Reserve may raise interest rates sooner than previously thought which would result in funds moving away from the emerging markets. Also, Greece worries bubbled to the surface again.
Further, CPI inflation inches up to 5.37% for February – The CPI inflation inched up to 5.37% Vs 5.11% MoM, marginally higher than estimates.
The INDIAN BENCHMARKS declined 945.65 points or 3.21% to 28,503.30. The 50-unit CNX Nifty fell 290 points or 3.24% to 8647.75.
GLOBAL MARKET CHASE
ASIAN STOCKS shook off early losses underpinned by overnight gains on Wall Street, while the dollar steadied after its recent rally ran out of steam on disappointing retail sales data.
U.S. STOCKS futures poised for a higher opening at the Wall Street on Friday.
EUROPEAN STOCKS was set for its longest streak of weekly gains since 1998 as traders added to their bets on an economic recovery in the euro zone, aided by a weak euro.
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