Below are Views On Weekly market outlook By Vinod Nair, Head of Research at Geojit Financial Services
"We are witnessing rising COVID cases, hopes of recovery through vaccine drives and a positive global market that helped the domestic market to ride a positive wave during the week. While reassuring the RBI’s policy aid, the Governor announced an array of support to the Covid-hit sectors through restructuring schemes and liquidity measures. Biden’s decision to waive intellectual property rights on vaccines, easing restrictions on movement in the US & Europe and expectation of better US job data aided western markets to outperform its Asian peers. During the week, metal stocks outshined other sectors on an improved outlook and a positive start to its earning season.
In the coming week, the trend in the market will be dictated by developments in the covid spread, upcoming result outcomes and global cues. Industrial production data for March and inflation data for the month of April is expected to be released this week. IIP data is expected to show robust growth due to economic recovery witnessed in March while inflation rates are to remain at elevated levels"
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