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In the week passed by, markets started on subdued note as participants remained cautious ahead of the US president Donald Trump’s speech to a joint session of Congress, there were no negative in the President Donald Trump speech. However, sentiment boosted as the quarterly GDP numbers surprised the market. The GDP for the quarter October- December came in at 7% Vs 7.4% (QoQ). Though there is a slight slowdown, but the market participant were expecting GDP to dip to 6.1% due to demonetisation. Meanwhile, Nikkei India Manufacturing Purchasing Managers’ Index (PMI) inched up to 50.70 in February from 50.40 in January, while Nikkei India Services PMI stood at 50.30 in February, up from 48.70 registered in January. This led to Nifty testing levels of 8892.50 mid-week. However, the level of 9000 was so near yet so far. Finally, the market took a pause after a five weeklong rally and ended the week with losses of about half a percent. In the backyard few important events are lined up in the coming week which is likely to keep market on the tenterhook. The State Election verdict which is due on 11th March. On the economy front, Index of industrial production data for the month of January will be announced on Mar 10. Also, ONGC is all set to take over complete control of HPCL from the government and forward integrate its operations.

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Indian equity benchmark indices viz. the S&P BSE Sensex and the Nifty 50 index registered small gains last week amid mixed global cues. However, the overall sentiment in the broader market was subdued during the week.The Sensex rose 134.50 points or 0.47% to settle at 28,468.75. The Nifty advanced 28.15 points or 0.32% to settle at 8,821.70. The BSE Mid-Cap index fell 0.33% and the BSE Small-Cap index declined 0.98%. Both these indices underperformed the Sensex.

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Market tumbled sharply last week after fears of acute cash crunch in India arising out of the government's recent decision to remove high-value notes, disrupting daily lives of millions of Indians who live in a cash economy. Moreover, investors worried that the recently elected US president Donald Trump's policies stance - from protectionism and fiscal expansion - will boost inflation and lead the Federal Reserve to raise interest rates more than expected. US bond yields surged last week, which triggered concerns that a higher interest rates in the US will spark capital outflows from the emerging equity markets. Besides, a mixed trend on other Asian stock markets also influenced the trading momentum in the domestic equity market.Last week, the S&P BSE Sensex fell 668.58 points or 2.49% to settle at 26,150.24. The Nifty fell 222.20 points or 2.68% to settle at 8,074.10. The BSE Mid-Cap index fell 391.59 points or 3.14% to settle at 12,072.43. The BSE Small-Cap index fell 616.13 points or 4.93% to settle at 11,868.94.

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Key benchmark indices dropped last week weighed by weak global cues and geopolitical concerns. The barometer index, the S&P BSE Sensex, dropped below the psychologically important 28,000 level during the week. The Indian Army conducted surgical strikes on terror launch pads on 28 September 2016 night across the Line of Control (LoC) in Pakistan, killing several terrorists and causing significant casualties to their hideouts. The operations were focused to ensure that these terrorists do not succeed in endangering lives of citizens in India.Last week, the Sensex fell 802.26 points or 2.79% to settle at 27,865.96. The Nifty fell 220.40 points or 2.49% to settle at 8,611.15. The BSE Mid-Cap index lost 165.29 points or 1.23% to settle at 13,166.68. The BSE Small-Cap index fell 178.10 points or 1.37% to settle at 12,780.80.

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