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Weekly Market Review
Outlook Of The Week | November 05

Bulls made a strong come back last week. The market started the week on optimistic note as RBI said that it will inject Rs 400 billion into the system in November through purchase of government securities to meet the festive demand. Market however, trimmed the early gains in the very next session, as traders anticipated the higher oil prices can hurt the consumers. Bulls came back again as India jumped 23 places to rank 77th among 190 nations in ease of doing business. On the economic front, growth of eight core infrastructure industries slowed to four-month low of 4.3% in September 2018, as production of crude oil and natural gas declined. However, the Nikkei India Manufacturing Purchasing Managers'' Index (PMI) - a composite single-figure indicator of manufacturing performance - improved to 53.1 in October from 52.2 in September. It was the final session of trade which took markets above their respective crucial levels, with the Finance Ministry''s statement that GST collections in October 2018 crossed the Rs 1 lakh crore marks, after a gap of 5 months. The decline in crude oil prices and marginal appreciation in value of rupee against dollar also contributed to the positive sentiment of the market.

 

The sensex and Nifty closed the week with gains of 5% and 5.2% respectively; the Mid and Small Caps performed relatively better and recorded gains of 7.3% and 6.4% respectively.

 

DIIs were Net buyers, while FIIs were net seller during the week. Sector Wise Movement

 

BSE Capital Goods was up by 1719.8 points or 10.5%, BSE Consumer Durables was up by 1465.6 points or 8%, BSE Realty was up by 123.7 points or 7.8%, BSE Auto was up by 1399.1 points or 7.2% and BSE Bankex was up by 1857.1 points or 6.8% were the top gainers on the BSE sectoral front.

 

Tata Motors up by 15.1% and State Bank of India (SBI) up by 14.3% were the top gainer on Nifty for the week.

 

Coal India down by 7.3% and Kotak Mahindra Bank down by 4.4% was the top loser of the week on Nifty.

The coming holiday truncated week, traders would be awaiting for the release of the Nikkei Services PMI data, after reacting to Nikkei Manufacturing PMI data and core sector data. Nikkei Services PMI data for the month of October will be released on November 5.The Traders will be reacting to the important results of Andhra Bank, BEML, Cadila Healthcare, ONGC, Ajmera Realty & Infra India, Atul Auto, Bosch, Fortis Healthcare, GAIL India, Inox Wind, Natco Pharma, NDTV, Orient Cement, Dr. Lal PathLabs, Manappuram Finance, E.I.D.-Parry (India), Indian Bank, India Cements, Mold-Tek Technologies among others.

 

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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