Sensex & Nifty ended the week on a positive despite hawkish commentary from Fed minutes, rising bond yields and unexpected withdrawal of accommodative stance from RBI. Domestic investors will watch out for Q4 earnings from IT companies and CPI data. India Services PMI increased to 53.6 levels in March 2022 from 51.8 levels in February 2022, pointing to the highest reading since last December and beating market consensus of 52.5 levels. Global markets, investors will watchout earnings, US inflation data and outcome from ECB policy-meeting.
Click here to read RBI policy-meeting analysis.
Equity Market Summary:
� FIIs/FPIs sold Rs.411 billion in March 2022 and brought Rs. 77 billion in April 2022 (as of 10th April 2022)��� .
� RBI left interest rates unchanged during policy-meeting and raised inflation forecasts for the year.
� Equity markets in US & Europe equities closed on a positive note, however, tech shares witnessed sharp sell-off.
� Brent crude oil prices declined by 2% during week amid US planning to release 1 million barrels per month from their strategic reserves.
� 10 yr UST climbed to as high as 2.7%, at three-year high amid higher inflation expectation and USD 100 billion balance sheet reduction.
� The number of Americans filing new claims for unemployment benefits decreased by 5,000 to 166,000 in the week ended 2nd April 2022.
