Pri-Market Commentary!

After suffering the biggest weekly fall in about two years the key indices could have to bear some more pain today. Rising inflation rate could again prove to be a cause of worry for the market players. US indices on Friday closed at their lowest levels since 2006 following weak February employment report. The government also revised downward jobs gain of the past two months.

The next big trigger is the March 18 meeting of the Federal Reserve. One factor that may help the bulls is the provisional positive FII figures. Foreign funds were net buyers of Rs513cr in the cash segment on Friday, when the Sensex was down by over 3%. Still, one should not get fooled by any rally, as the bias remains largely negative.