Weekly Newsletter - March 8 2009

Hurray. Hurray. It’s a holi, holiday! That seems to be the only cheerful news for the coming week. In fact markets will remain closed on Tuesday for Eid and on Wednesday for the festival of colors – Holi. Investors will hope that the red in the air turns to green soon as markets worldwide grapple with multiple headwinds.

Among key data to be announced next week include IIP numbers. Contraction in industrial production is expected to continue and remain in negative zone. The overall auto sales numbers for the month of February will also be announced. Some healthy growth will be seen here. Inflation is likely to dip below the 3% mark next week but markets could hardly care about this.

The way global markets swing will determine our market movement in the three-day trading week.