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With the market continuing its good run for a third straight week and with SGX Nifty trading at 8846.50 level today, Sensex and Nifty is expected to open in the green in today’s trade. The last leg of the quarterly earnings, inflation data and the trend in the Uttar Pradesh Assembly polls will impact the stock market going ahead. Important earnings to watch out for are of Hindalco Industries, HPCL, Nalco, NMDC, among others.
Asian markets traded mixed after North Korea said early Monday the test of a new missile type at the weekend was successful and capable of carrying a nuclear warhead. Government data showed that Japan's economy grew at an annualized rate of 1.0 percent in the fourth-quarter, supported by solid exports and capital expenditure. The preliminary gross domestic product (GDP) reading was below a Reuters poll estimates of 1.1 percent growth.
Markets this week will be guided largely by global cues and as UR Bhat of Dalton Capital fears that US President Donald Trump’s policies pose a huge risk for the market. The US market last week ended on a high note by climbing to new record highs after Trump’s promise to release a tax plan in the near future. An upbeat data fueled talk of a near-term rise in US interest rates.
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