|Chennai||Rs. 24470.00 (1.37%)|
|Mumbai||Rs. 24900.00 (0.97%)|
|Delhi||Rs. 24200.00 (1.26%)|
|Kolkata||Rs. 24160.00 (0%)|
|Kerala||Rs. 24000.00 (0.63%)|
|Bangalore||Rs. 23800.00 (0%)|
|Hyderabad||Rs. 24140.00 (1.17%)|
After the historic surge that saw the benchmark indices Sensex and the Nifty peak to new all-time highs last week, the Indian stock may well see some consolidation in the coming weak.
A strong inflow of funds from foreign institutional investors, a significant drop in current accout deficit in the October - December quarter and the rupee's rise against the U.S. dollar lifted the market up sharply last week.
A further upmove is very likely if FIIs continue to pump in funds into the equity market. Similarly, the rupee's performance too is a crucial trigger for the market.
Foreign institutional investors bought shares worth a net Rs 4971.80 crore during the week ended 7 March 2014. After pumping in just around Rs 384 crore on the first two sessions, FIIs, bougth shares wroth a net Rs 737.29 crore on Wednesday and Rs 1272.93 crore on Thursday, before turning quite agressive and picking up shares worth a net Rs 2577.77 crore on the final session.
The domestic institutional investors, meanwhile, were net sellers to the tune of Rs 216.72 crore in the week.
Over the next few sessions, investors will be reacting to the data on industrial production for January 2014 and inflation figures for urban and rural India and the data on wholesale price inflation for February. While the industrial production data and combined consumer price index will be out on Wednesday (12 March), the wholesale price inflation data is due to be released on Friday (14 March).
Investors will also be eying advance tax payments made by top corporate houses for the January - March 2014 quarter.
On the global economic front, investors will be tracking the U.S. jobs data. On Friday, the U.S. Labor department reported a strong than expected rise in employment in February. The U.S. market, however, ended the on a mixed note amid lackluster trades.