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Weekly Market Review
Outlook Of The Week | October 15

The last week turned out to be a roller coaster week for the Indian equity markets. Markets started the week on optimistic note on the back of Reserve Bank of India (RBI) retaining the GDP growth projection for FY19 at 7.4%, in its fourth Bi-monthly Monetary Policy Statement on 5th Oct,2018. However, it kept the Repo rate unchanged. Markets erased all of the gains on the very next day and later got some support with the RBI’s decision to inject Rs 12,000 crore liquidity into the system through purchase of government bonds on October 11 to meet festive season demand for funds. The Bears came back in the action on Thursday and Indian equity indices registered sharp losses of over 2%. But it was the final session of trade which came out as a saving grace for Indian markets that helped them to garner a weekly gain of over 1% on the back of value buying at lower levels, decline in crude oil prices and modest appreciation in Rupee Vs Dollar.

After 4 weeks of continuous negative closing, the Sensex and Nifty gained 357 points (1.04%) and 156 points (1.51%) last week to end at 34,734 and 10,473, respectively.

The Mid Cap and Small Cap indices performed better and gained 2% and 2.3% respectively.

 DIIs were net buyers while FIIs continued to be net sellers during the week.

Sector Wise Movement

BSE Oil & Gas index was up by 1133 points or 9.3%, BSE PSU was up by 297 points or 4.5%, BSE BANKEX was up by 1202 points or 4.4%, BSE Consumer Discretionary Goods & Services was up by 113 points or 3.3% and BSE Finance was up by 171 points or 3.2%.

Yes Bank up by 14.6% and Eicher Motors up by 9%

On the losing side, the BSE Information Technology index was down by 1005 points or 6.6%, BSE TECK was down by 394 points or 5.2% and BSE Metal was down by 58 points or 0.45%.

Tata Motors down by 17.7% and Bharat Petroleum Corporation (BPCL) down by 12.7%. 

The market participants will keep an eye on the Wholesale price index (WPI) data for the month of September which is slated to be released on October 15. Traders will be eyeing Q2 FY19 Corporate earning of the important companies like India bulls Housing Finance, Indusind Bank, Avenue Super Market, Crisil, Heromoto cop, Infosys, ACC and RIL etc. scheduled to announce in the coming week and will trace the momentum of rupee and FII investment. The market is expected to be volatile and indices will move sideways. 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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