INSUBCONTINENT EXCLUSIVE:
key macro-economic data points and direction of foreign fund flow will affect the domestic equity market's trajectory during the upcoming
week.According to analysts, hopes of corporate earnings revival and formation of a stable central government post General Elections 2019
will also have a bearing on the market."Going ahead, we expect Nifty to consolidate after correcting further
Small-cap indices may outperform large-cap indices
Investors should now focus on stock specific ideas and probably abstain for leverage index positions."However, going forward key domestic
indices are expected to move in tandem with the global market amid factors such direction of fund flows and movement of the Indian currency,
said DK Aggarwal, chairman and managing director, SMC Investments and Advisors.On the investment front, provisional figures showed that so
far during March foreign institutional investors (FIIs) bought stocks worth Rs 26,232.60 crore."Investors across the globe have also
increased their exposure towards emerging markets like India on the expectation of an earnings revival," Mr Aggarwal said.According to Vinod
Nair, head of research at Geojit Financial Services, another factor which helped market to gain was the continued optimism shown by the
FIIs, which were largely driven by expectation of positive outcome from general election."Further, emerging markets like in India is
benefited by improvement in foreign funds to emerging markets due to dovish policies from global central banks
US Fed indicated that there will be no rate hike this year and to end its ongoing QE tightening program due concern over economic growth."In
to weaken beyond 69.50 in the coming week owing to global recessionary fears," said Sajal Gupta, head forex and rates, Edelweiss
Securities.In addition to the rupee's moves, macro-economic points like Index of Eight Core Industries (ECI) figures, along with the
country's fiscal deficit numbers up to February and external debt data will be keenly watched by investors.On technical levels, Nifty
might slide further after it took a breather and corrected sharply on last Friday."Traders will need to watch, if the index can now hold
above the immediate supports of 11,380; else a further correction is on the cards in the coming week," said Deepak Jasani, head of retail
schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
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