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Weekly Market Review
Outlook Of The Week | January 14

Indian Stock Market started the week on optimistic note on report that revenue from Direct Taxes grew by 13.6% to Rs.7.43 lakh crore in first 9 months of the FY19. Further, the FICCI’s president Sandip Somany said that, the agricultural reforms, interest rate cut and credit availability to MSME will drive India’s economic growth rate to 7.5-7.6% in 2019-20. Market extended the north way journey for two more days after CSO in its First Advance Estimates of National income, 2018-19, showed that India’s economic growth is expected to grow at 7.2% in FY19 from 6.7% in FY18 mainly on the back of improved agriculture and manufacturing sector. The recovery in US market also contributed to positive sentiments. However, the traders booked some of the profit in last two sessions of the week on rise in crude oil and depreciation in value of Rupee and the major indices saw consolidation. India’s IIP has declined to 0.5% in Nov 2018 against 8.4% in Oct 2018 and 8.5% in Nov 2017, which is 17 month low mainly due to a de-growth in manufacturing output.

 The Sensex and Nifty closed the week with gain of 315 points 0.88% and 68 points 0.63% ;

Mid and Small Cap indices closed with the smother gain of 0.19% and 0.05%, respectively.    

FIIs were the net sellers whereas; DIIs were the net buyer during the week.

Sector Wise Movement

BSE Fast Moving Consumer Goods (up by 248.01 points or 2.12%), BSE Consumer Durables (up by 352.82 points or 1.72%), BSE Healthcare (up by 196.30 points or 1.42%), BSE BANKEX (up by 362.87 points or 1.19%) and BSE Information Technology (up by 153.42 points or 1.10%) were the top gainers, while BSE Oil & Gas (down by 324.06 points or 2.40%), BSE Metal (down by 106.81 points or 0.95%), BSE Capital Goods (down by 149.98 points or 0.82%) and BSE PSU (down by 55.55 points or 0.77%) were the top losers. 

Traders will also react to the inflation rate and wholesale price inflation data for the month of Dec which is scheduled to release on 14th Jan. Steel sector stocks will be in action, as India may hold informal talks with nine countries, including Saudi Arabia and China, to expand bilateral flying foreign rights during the Global Aviation Summit, the meeting could take place on January 14. Meanwhile, Reserve Bank of India''s (RBI) governor Shaktikanta Das meeting with Officials from the Indian Banks'' Association (IBA) on January 17 to discuss issues concerning the banking sector

We have entered into the results season of Q3FY19, below is the list of companies who are scheduled to declare results.

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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