- Indian equity markets were flat last week, correcting 0.75% from the previous week's closing, pausing after an upward rally in recent weeks. The Union Budget was not a major event and the RBI did not cut rates. - Manufacturing and PMI data from China and Germany came in below expectations, renewing concerns about a hard landing in China and correcting commodity markets. - Last week saw the merger of Tech Mahindra and Satyam Computers, closing the chapter on the 2009 Satyam fraud scandal. This merger creates the fifth largest IT company in India.