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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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