Ajit MishraThe market traded volatile last week and settled almost unchanged amid mixed cues. The sentiment was downbeat in the beginning amid concerns of coronavirus’ impact on the global trade and subdued quarterly earnings.Much to the participants’ relief, reports that the epidemic is showing signs of slowing down and it might end by the April month triggered rebound across global markets in the middle of the week.Close However, weak macroeconomic data again turned the market cautious which resulted in profit-taking in the last two sessions.Ajit MishraVP & Senior Technical Analyst, Equity Research|Religare Broking ‘Govt measures showing results, should lead to earnings recovery in 1-2 quarters’D-Street enters last leg of the earnings season; inflation, IIP data likely to dictate trendGovt may achieve tall divestment target if LIC IPO comes through: Religare BrokingFinally, the benchmark index Nifty, settled at 12,113.45, up by 0.12 percent for the week.Since the earnings season is now behind us and there is no major domestic event, global cues will dictate the market trend.The market is closely eyeing the developments on the coronavirus front and that will remain on the traders’ radar.This week is a holiday-shorted one and we expect Nifty to consolidate further within 11,900-12,300 zone. We’re… Read full this story
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