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Below is on Weekly Market Outlook By Vinod Nair, Head of Research at Geojit Financial Services

The domestic market witnessed a broad-based rally during the week, strengthened by encouraging domestic macroeconomic data and sustained inflows from FIIs. The unlocking of value by heavy weights (like RIL & ITC) also helped in apprising the main indices. Mixed cues from the global peers did not cause any serious disturbance in the mood of the domestic market as FII inflows stayed put with the prospects of the Indian economy. The bull run was, however, lately interrupted by weak guidance from Infosys, which cast a shadow over the outlook of the Indian IT sector. The banking sector led the sectoral rally in anticipation of a good Q1 result. The picture of global markets was mixed as the US market struggled with weak earnings. In the upcoming week, investors will be closely focused on the FOMC meeting. While a 25-basis point rate hike is widely expected, investors will be more interested in the committee's commentary on future rate actions, seeking clues for the anticipated future rate pause.

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