Volatile week ahead ::CSEC Research

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Volatile week ahead

Indian bourses declined for the second week in a row on account of tepid Q3 GDP numbers as it stood at 6.1 percent way below street estimates. The S&P CNX Nifty remained range bound between 5270 and 5460 and managed to close above 5350.Interest rate sensitives declined with realty shedding another 2 percent for the week. The volumes were on the lower side when compared to previous week. The FII’s remained as net buyers for multiple weeks as they bought shares worth Rs 20,885 million while DII sold shares worth Rs 17,979 million.

Auto sales numbers for the month of February were robust. Maruti, TataMotors, Hero motocorp reported healthy sales numbers. Mahindra and Mahindra sales improved in the SUV segment while its farm equipment segments posted de growth of 19 percent. Shares of Mahindra and Mahindra declined more than 5 percent.

Going ahead, Indian market is likely to remain volatile ahead of elections results in five states due on Tuesday, 6 March 2012. The stock market remains closed on Thursday, 8 March 2012, on account of Holi. Price fluctuation in Crude oil prices may also have an impact on market momentum

Regards,

CSEC Research