Markets to record gapup opening amid several global, national events lined up

Come Tuesday, you may witness markets touching a new high even as the markets closed up by nearly 0-4 per cent in the last week having apprehensions over the results of five states' assembly elections. Meanwhile, the coming week is going to be one full of national and global happenings giving further cues to the markets in India. Altogether, a sense of euphoria is in the air on this day of colourful festival, Holi when markets too are celebrating and gearing up to witness a thunderous Tuesday. Also subsequent to a fortnight-long consolidation, Nifty and Sensex will climb higher on Tuesday taking a cue from the crucial GST Council meeting to be held in the national capital on March 16.
 
It also needs to be noted that additionally, markets have another reason to celebrate on Tuesday and onwards--the impressive factory output numbers showing 2.7 per cent growth in January.
 
Meanwhile, on Monday evening, BJP's national executive committee is expected to name the new chief minister of Uttar Pradesh and name of Manoj Sinha is being considered seriously, if sources close to the development are to be believed. Sinha presently holds the charge of Minister of State for Railways and known for being a strong man when it comes to running administration.

However, knowing Amit Shah, the Party chief and his boss, Narendra Modi, one can always wait for a last-minute surprise. Who knew that Vijay Rupani, more known as a mere spokesperson for state BJP would be asked to take charge of Gujarat replacing Anandiben Patel. But whosoever takes over as new UP chief minister, fact is end of the day the control of the state will be in the hands of Shah and Modi. Markets will definitely cues from this emphatic victory of BJP assuring political stability in the state and also Centre, read more power for BJP in Rajya Sabha, the upper house of the Parliament.
 
All eyes also now will be on the Federal Reserve meeting scheduled to be held in Donald Trump's country during March 14-15. Any favourable decision may take Nifty somewhere beyond 9100, if the market experts are to be believed. In the beginning of a happening week, we can expect things to be positive like never for retail investors in last three years. Also watch out for the retail, wholesale inflation data of February to come out during this week only which also will play a role in markets' movements.
 
So all loaded, markets will definitely have a new tone and tune to dance with. Let us look forward to a happening and prosperous week ahead.