Sensex & Nifty bounced back from year lows and recorded 3% gains during previous week. Progress in peace talks between Russia-Ukraine boosted market sentiment and, FIIs selling pressure eased. In the coming week, RBI monetary policy-outcome, Fed & ECB policy-meeting minutes, global PMI levels and domestic quarterly earnings expectations will be setting trend for Sensex & Nifty. On domestic macro-front, Infrastructure output rose by 5.8% YoY in February higher than previous reading and current account gap recorded USD 23 billion.
Equity Market Summary:
� FIIs/FPIs sold Rs.411 billion in March 2022.
� HDFC and HDFC bank have announced a merger and HDFC will own 41% in HDFC Bank.
� Equity markets in US & Europe closed on positive note amid fall in volatility.
� Brent crude oil prices declined by 6% during week amid US planning to release 1 million barrels per month from their strategic reserves.
� 10 yr UST climbed to as high as 2.44%, approaching an almost three-year high amid higher inflation expectation and Fed rate hike.
� US economy added 431,000 jobs in the month of March 2022 and unemployment rate came in at 3.6%.
� US wage growth reported at 0.4% MoM, in-line with market expectation.
