Market Outlook Weekly

Markets are expected to take direction from the developments in the global markets. Investors would closely eye the trend in the Japanese equity markets which has witnessed steep correction from its peak recently. Global Bond markets and currency trend would also be closely watched by the market participants in India. Higher levels may witness profit booking. PMI data for the month of May, 2013, IIP data for the month of April, 2013 and inflation figures will be declared during the week and will set the tone of the markets. The near term trigger for the market would be outlook about the arrival of monsoon. Any positive news flow could lead to strength in the markets. Till then, markets may consolidate around these levels.