Indian markets to look overseas for cues:
Markets Looking Up
- Despite consolidating, markets in the US, UK, France, Germany, Japan, Honk Kong, South Korea, Singapore, India, Russia and Brazil all posted gains over the past week.
- In the US, the weekly jobs data spurred optimism but consumer and retail data came as dampeners.
- China’s inflation rate rose to a 16-month high in February.
- India’s Monthly Industrial and manufacturing data was robust, showing output increasing at a pace 16.7% in January.
The markets are likely to move up and the trend is likely to remain up despite the ongoing volatility.
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