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Weekly Market Review
Outlook Of The Week | October 01

Market started the week on dismal note as according to a report by CII, RBI in its next monetary policy review on 5th Oct, 18 will go in for another rate hike. Apart from continued rise in Crude Oil prices, decline in value of Rupee, cautioned US-China trade war, the failure of IL&FS to honor its commitment and problems with DHFL and other NBFCs spooked the market. We saw some short covering on Tuesday. But, market turned pessimistic and continued its southward journey for rest of the days to ended below the crucial levels. The indices ended lower for the straight fourth week.

The Sensex and Nifty slipped 614 points (1.7%) and 213 points (1.9%) to 36,227 and 10,930, respectively.

The Mid Cap and Small Cap indices suffered bigger losses and lost 5.3% and 8.5% respectively.

 DIIs were net buyers while FIIs were net sellers during the week.

Sector Wise Movement

BSE Realty was down by 237 points or 12.2%, BSE Auto was down by 1798 points or 7.7%, BSE Consumer Discretionary Goods & Services was down by 258 points or 6.5%, BSE Capital Goods was down by 949.3 points or 5.3% and BSE Metal was down by 677 points or 4.9% were the top losers.

Yes Bank down by 19% and Eicher Motors down by 13%.

While on the gaining side BSE Information Technology was up by 159 points or 1% and BSE TECK was up by 7.3 points or 0.09% to 7730.

TCS up by 3.8% and Infosys up by 3.5%. 

Investors will be eyeing the Nikkei Manufacturing PMI data, which is slated for release on October 1, 2018 followed by Nikkei Services PMI data, which is slated for release on October 4, 2018 as well as RBI''s fourth bi-monthly monetary policy review, which is scheduled on October 5, 2018.

Auto and cement stocks are expected to remain in limelight during the next week as these companies would report their monthly sales figures for Sep 2018.

The market will be choppy. Traders are therefore advised to act cautiously and invest in fundamentally good companies on decline.   

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ABOUT THE BLOGGERS
Mr. Animesh YadavFundamental & Derivatives Analyst

Animesh has spent 3 years covering Indian derivative market with Moneysukh (Derivative Analyst) and Global OTC derivative market with CRISIL GR&A (Research Analyst). Since, June 2018 Animesh led Fundamental and Derivative Research Desk at Satco cove..

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