Weekly outlook: Minda Industries Among Top Picks, FPI Flows Likely to Remain Volatile*

Highlights of 21 March ’22 Fundamental weekly podcast*

- Domestic markets jumped in the past week with Nifty and Sensex gaining around 4.4% and 4.5%, respectively.

- The Federal Reserve hiked benchmark interest rate by a quarter of percentage point for the first time since 2018.

- The policymaking Federal Open Market Committee (FOMC) also pencilled in 6 more rate hikes in 2022, as well as factored in a reduction in its US$ 9 trillion balance sheet.

- FIIs flows in the month of March 2022 were negative to the tune of Rs 44,417 crore. We believe FIIs flow in India will remain volatile in the short term on the back of multiple headwinds like Inflation, monetary tightening, elevated crude oil prices, geo-political issues, etc.