Previous Week : Sensex settled at 17486.02 points
Domestic equity benchmarks witnessed choppy trades in a narrow range in a truncated week and closed with 0.50% gains. Mixed global cues and a long weekend ahead, induced participants to take profits off the table and stay light to avoid the expected volatility. The BSE Sensex settled at 17486.02, up 81.82 points or 0.47% while the NSE Nifty Closed at 5322.90, up 27.35 points or 0.52% for the week. The broader markets outpaced the benchmarks by a wide margin as the BSE midcap and small cap index posted handsome weekly gains of 2.01% and 3.25%, respectively
  • As per the preliminary estimates released by the RBI, the Current Account Deficit for Q3 2011-12 was placed at USD 19.4 billion, which was higher than USD 18.4 billion seen in Q2 2011-12 and almost double than USD 9.9 billion seen in Q3 2010-11
  • This deterioration was primarily tracking the worsening of Trade Deficit levels to USD 47.7 billion
  • The Capital Account showed dismal performance during Q3 2011-12 with just USD 8.0 billion worth of inflows, leading to a negative USD 12.8 billion Balance of Payments for the stated quarter
  • After the flip-flop, Coal India was issued a presidential directive to sign FSA (80% quantity with long term PPAs) with power producers
  • Nymex crude was flat closing at US$103/ barrel gaining 0.28% on a weekly basis (as on Thursday)

Week Ahead - Infosys will kick-start the Q4 FY12 earnings season
Following the previous week's 'hammer', the Nifty has formed a small bodied bull candle with a long upper shadow indicative of some selling pressure at higher levels. It also failed to take out the resistance line drawn by connecting the recent tops of 5629 and 5499, which is currently pegged near 5390-5400, which will act as a major resistance in the coming week. On the downside major support is near 5150 which is the 200 days SMA.
  • In April 2012, (till April 4, 2012), FIIs and DIIs were net buyers to the tune of 624 crore and 254 crore
  • Key data to watch globally would be US wholesale inventories, MBA Mortgage Applications, and US Consumer price Index
  • In India, key data points to watch out would be IIP
  • Infosys will kick-start the Q4 FY12 earnings season