Market expecting moderate data

The Indian market, which is likely to remain volatile during the week, will closely track crude oil movement and the wholesale inflation numbers for January and factory output data for December. The traders could take comfort from P Chidambaram's statement that India was likely to post a GDP growth of 5.5% in the current fiscal year, more than the 5% estimate of the Central Statistical Office, as the economy started showing signs of revival since November. Later on the focus will shift to expectations from Union Budget to be presented on 28th February.

The Index of Industrial Production (IIP) data is expected to be announced on Tuesday. Inflation numbers for January are expected on Thursday. IIP is expected to rise 1.1% in December after shrinking 0.1% in November. The inflation numbers for January are expected to moderate.