Indian market closed in the red on Friday, Nifty closed above the 11,000 levels at 11,035 points. I.T. stocks dragged benchmark indices as rupee closed near 2-month high.
For the week Sensex closed up 1.7%, Nifty gained 1.6% and Nifty Bank closed up 2.6%. Eicher 9.5%, HPCL 6.6%, NTPC 6.5%, BPCL 5.6%, ITC 4.9%, ICICI Bank 4.7% were among Nifty gainers whereas Wipro -8.4%, Zee Ent -6.7%, Infosys -3.9%, HCL Tech 3.9%, Tech Mahindra -2.5% were among Nifty losers.
Nifty Resistance seen at 11080, 11200; Support at 10860, 10930. Bank Nifty
Resistance at 28200, 28000 ; Support at 27720, 27400.
A look at some events which will guide the markets.
Macro eco data
A slew of macro economic data will be released this week, January IIP data will be on Tuesday, expected to be at 2%, February CPI data will also be released on Tuesday, expected to be at 2.4%. February WPI data will be released on Wednesday noon, expected to clock in at 2.88%. Trade data for the month of March will be released on Friday, also Friday will be the last day to pay fourth and final installment of advance tax.
With less than 20 days to go before the March 29 deadline, British PM Theresa May will put forth latest Brexit deal through Parliament. UK PM Theresa May promised late last month that she would give the UK Parliament a chance to vote again on a Brexit deal on Tuesday after going back to the European Union to try to negotiate changes that could win the backing of members of Parliament. UK Parliament will vote if they agree with the lastest plan or they exit EU without a plan at all or try for an extension with EU to leave the
BoJ rate decision
Bank of Japan will release its monetary policy on Friday, widely expected to keep rates unchanged near zero percent.
Pakistan government officials will visit India to discuss Kartarpur draft agreement. The external affairs ministry is also ready for a meeting of officials of the two countries in India on Thursday to finalise modalities and decide the coordinates for the crossing point of the corridor on the international border. The two sides are also expected to discuss a draft agreement that will allow Indian pilgrims to travel without visas.
Etihad Board meet
Part owner of Jet Airways, Etihad's board will meet on Monday to decide on approving resolution plan for Jet airways. According to finalized resolution plan, Naresh Goyal's stake to come down to 17% from 51%, latest plan also includes Naresh Goyal stepping down from board.