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IIP, crude oil price trend to dictate stock market trend next week

New Delhi, PTI | Updated : 08 March 2015, 02:08 PM

Macro economic data, foreign investments, and crude oil price trend will dictate the stock market trend in the week ahead, say experts.

Industrial production data for January would be announced on Thursday. On the same day, the combined consumer price index (CPI) data for February 2015 would also be declared.

“Movement of index in near term will depend on upcoming announcement of CPI and IIP data on March 12, 2015. In near term, the index is likely to remain volatile,” said Vivek Gupta, CMT  Director Research, CapitalVia Global Research Limited.

Meanwhile, Indian indices will on Monday react to the US jobs data announced on Friday.

The unemployment rate in the US has dropped to 5.5 per cent from 5.7, with businesses adding 295,000 new jobs in February, according to latest governmental statistics.

Besides, developments in the ongoing session of Parliament will be closely watched.

“With most market fears coming down, the continuance of FII flows towards Indian markets suggest that current market valuations are here to stay. We expect the markets to remain bullish in the coming week,” said Hiren Dhakan, Associate Fund Manager, Bonanza Portfolio Ltd.

The initial Public offer (IPO) of Adlabs Entertainment will open on March 10 and closes on March 12, 2015.

The BSE benchmark index Sensex gained 87.45 points to end the week at 29,448.95.

First Published: Sunday, March 08, 2015 02:06 PM
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