Market Review

Just a couple of days back, car sales number contracted by 6.7% as per SIAM.
This number shows that car sales have contracted first time in over a decade.

Now, Infosys has come out with its Q4 results.    The numbers have absolutely
disappointed the markets with its net up by only 3% YoY.    No wonder, Infy
shares crashed by 20% intraday.    What is more concerning is its annual guidance,
projecting a 6% - 10% growth in revenues.    This is far below industry standards.
If Infy results are a harbinger of what is going to follow in the earnings season, then,
an earnings downgrade is inevitable and imminent.

Industrial output (IIP) numbers for the month of February has come out at 0.6%.
Barring consumer goods, all other constituents of industrial output basket have declined.

Things are looking very gloomy for Nifty.    Hope FIIs don't turn bearish at this crucial
juncture.