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Weekahead: Market to trade with downward bias

Traders will continue to monitor foreign fund flows after the recent sell-offs on concerns over taxation rules.

Weekahead: Market to trade with downward bias

Indian debt and forex markets to remain ranged next week with a downward bias ahead of the Fed meeting outcome

The US Federal Reserve’s two-day meeting outcome is due to be announced on Wednesday evening. The benchmark 10-year bond yield is seen moving in a 7.75 to 7.85 percent range.

Traders will continue to monitor foreign fund flows after the recent sell-offs on concerns over taxation rules. The partially convertible rupee is expected to hold in a 63.10 to 64.70 range next week.

The NSE index is expected to find support at its 200-day moving average of 8,250.40 after two consecutive weekly falls.

Clarity on foreign investor taxation may also help sentiment.

KEY FACTORS/EVENTS TO WATCH

Sat: Earnings UltraTech Cement

Mon: Earnings Maruti Suzuki India, ICICI Bank

Tues: Idea Cellular, Bharti Airtel

Wedn: Sesa Sterlite, Housing Development Fin Corp

RBI to release fortnightly money supply data

Thurs: IDFC, Axis Bank

Fri: Markets closed for May Day

RBI to release its weekly statistical supplement at 5 p.m.

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