Markets likely to stay volatile


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NEW DELHI/MUMBAI : Indian stocks, which have significantly underperformed their emerging market counterparts amid selling by foreign portfolio investors, are poised to be guided by economic indicators, including December quarter GDP growth figures and the purchasing managers’ index data for February. The National Stock Exchange’s Nifty index posted a weekly loss of 2.7% to 17,465.80, a four-month low, amid FPIs selling a provisional ₹1,470.34 crore worth of shares on Friday alone. The Adani saga and a weaker rupee are playing spoilsport for markets. US short-seller Hindenburg Research’s allegations of fraud and manipulation against the Adani group have destroyed investor wealth...