The disappointing start to Q4 earnings season, markets closed on a weak note during the week ended this ignoring positives like better than expected IIP data and lower CPI.
Equity markets extended their losing streak for third consecutive week following a spike in crude oil prices triggered by Middle East tensions and selling from FIIs.
Markets recorded biggest weekly fall in 2015 due to the fears of higher retail inflation forcing RBI go slow on expected interest rate cut.
Perked by RBI rate cut and lack of negatives in the Union Budget, markets logged gains for fourth week in a row. The Sensex and the Nifty closed higher with modest gains at 29,449 and 8,938.
Shrugging away the Delhi elections outcome and taking comfort in the FM’s statement that India’s economy is poised to take off at a much faster pace and allaying fears regarding any slowdown in reform