Market started the holiday truncated week on an optimistic note despite
the weak macro-economic data. India’s IIP slowed down to a three month low of
4.3% in the month of August, 18 as compared to 6.6% in the previous month and
4.8% in the same month last year, while CPI inflation inched up to 3.77% in the
month of September, 18 to a 10 month low of 3.69% in the previous month
recorded in August, 18. Meanwhile, WPI surged to 5.13% in September, 18 from
4.53% in August, 18 and 3.14% during the corresponding month previous year.
Trade deficit declined to $13.98 billion in September from $17.39 billion in
August, 18 following slower growth in imports. However, the market took U-turn
and pared all of their initial gains on reports that the share of FPI in
domestic capital markets through participatory notes hit a nearly
nine-and-a-half year low of Rs. 79,548 crore in September, 18.
DIIs were net buyers of Rs. 1009 crores while FIIs continued to be net
sellers of Rs. 1876 crores during the week.
Sector Wise Movement
BSE Auto was down by 847 points or 4.1%, BSE Finance was down by 151.8
points or 2.8%, BSE Consumer Discretionary Goods & Services was down by 98
points or 2.7%, BSE Consumer Durables was down by 487 points or 2.6% to and BSE
Realty was down by 35.9 points or 2% were the top losers.
Bajaj Finserv down by 9.1% and HCL Technologies down by 8.8%
While BSE Fast Moving Consumer Goods was up by 211 points or 1.9% and BSE
Healthcare was up by 95 points or 0.66% were the only gainers on the BSE
Hindustan Petroleum Corporation
(HPCL) up by 19.5% and Oil and Natural Gas Corporation (ONGC) up by 8%
There may be some buzz in the NBFCs sector as
the NBFCs have sought a meeting with the Finance Minister.
Traders will be reacting to the corporate
results of the important companies i.e, HDFC Bank, Asian Paints, Bajaj Finserv,
Bajaj Auto, Kotak Mahindra Bank, Maruti Suzuki India, ITC and etc.
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.