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Weekly Market Review
Outlook Of The Week | December 17

The Indian market started the week on pessimistic note after RBI indicated that the CAD has widened to 2.9% of GDP in the second quarter of the fiscal year compared to 1.1% in the year ago period, mainly due to a large imports. Sentiments also remained dampened after the assembly poll results for five states which showed the PM’s popularity in doubt into 2019 elections. However, on the economic front the IIP data surged to 11-month high of 8.1% in the month October 2018 against 4.5% in September 2018. Adding optimism, India’s retail inflation based on CPI cooled down to a 17-month low of 2.33% in the month of November 2018, as compared to 4.88% in the same month of previous year. The traders also got some support when the WPI slowed down to 4.64% in November from 5.28% in October. With uncertainty of state elections being over, there was massive short covering as well as fresh buying which pushed up the major indices.    

The sensex and Nifty closed the week with gains of 290 points (0.8%) and 112 points (1%) respectively;

FIIs were the net seller whereas, DIIs were net buyers during the week.

Sector Wise Movement

As the sectoral indices were up this week, BSE Auto (up by 902 points or 4.5%), BSE PSU (up by 264 points or 3.9%), BSE Consumer Discretionary Goods & Services (up by 139 points or 3.8%), BSE Oil & Gas (up by 444 points or 3.4%) and BSE Consumer Durables (up by 686 points or 3.4%) were the top gainers on the BSE sectoral front.

Hero MotoCorp and Bajaj Finserv up by 9.5% and 9% respectively. 

Investor will keep an eye on Foreign Exchange Reserves and Indian bank loan growth data on 21st Dec. Market participants will be tracking the movement in Rupee and FIIs investment flow. 


The market is expected to consolidate. Traders are, therefore, advised to 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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