Markets may head lower next week on discouraging data

Posted By:
Subscribe to GoodReturns

Markets may head lower next week on discouraging data
Stock markets are expected to drift slightly lower next week, reacting to discouraging jobs data from the US, as well as to the fact that European problems have begun resurfacing. The current week saw only three trading days, with markets remaining closed on Thursday for Mahavir Jayanti and on Friday for Good Friday.

The US jobs data that was released on Friday came in worse than expected. Adding to the worries of the global markets are the rising bond yields in Spain and of course the ongoing unrest in Greece. All these are expected to weigh on global sentiments and Indian markets are more or less likely to follow weak global trends.

Domestically, markets are now awaiting with eager breath, the Monetary Policy Review of April 17, 2012. It is almost certain that the RBI would cut repo rates by at least 25 basis points. However, any hawkish statement from the RBI might not help sentiments.

All eyes would also be focused on IT major Infosys Technologies which will declare its results on April 13, 2012. Markets are expecting the company to report a flattish kind of profitability but will look for its future guidance for 2012-2013.

Read more about: markets, monetary policy review
Story first published: Saturday, April 7, 2012, 10:01 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'