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Global events to keep St on toes, earnings eyed

DNMUM412185 | 4/16/2018 | Author : Yogesh Vinod Mehta | WC :325

Nifty to trade between 10300 and 10550; Syria attack may impact market
STOCK MARKET PREVIEW
Last week, Nifty continued crawling northbound and rose for the third straight week. The index gained 1.44% closing at 10480. The midcap index gained 0.80% while smallcap index remained unchanged for the week. India’s macro data showed improvement in IIP, growing at 7.1% and CPI inflation came at five months low. This helped boost the sentiment ignoring widening of fiscal deficit, and the oil price that rose to $72 due to tension in Syria.
The information technology (IT) stocks gained the most ahead of the rupee weakening and earnings season. Infosys announced inline results with the guidance of 6-8% revenue growth on Friday.
The metal stocks shined, rising 3.4%. However, the recent war that broke out between the US
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