The market started the week on a pessimistic note as the IMF warned governments
to gear up for a possible global economic slowdown. India''s industrial growth
measured by IIP inched up to 2.4% in the month of December 2018, after hitting
a 17-month low in November, while retail inflation based on CPI continued its
southward journey for another month and eased further to 2.05% in the month of
January 2019, the lowest in the last 19 months. Wholesale prices in India have
eased to 2.76 % in January, as compared to 3.80 % in December, due to cheaper
food and fuel prices.
Market participants failed to get any sense of relief with positive
macro-economic data. The market’s mood remained grim throughout the week as indices
couldn’t even manage a single day of positive close.
The Sensex and Nifty closed the week with loss of 738 points (2.02%) and
219 points (2%) respectively,
Mid Cap index lost 2.71% whereas, Small Cap index lost 2.96% during the
Both FIIs & DIIs were the net buyers during the week.
Sector Wise Movement
BSE Oil & Gas (down by 576 points or 4.2%), BSE Healthcare (down by 550
points or 3.9%), BSE PSU (down by 242 points or 3.6%), BSE
Auto (down by 681 points or 3.6%) and BSE Consumer Discretionary
Goods & Services (down by 104 points or 2.9%) were the top losers,
Yes Bank up by 25.1%
While BSE Power (up by 3.3 points or 0.2%) was the only
gainer on the BSE sectoral front.
Indo Count Indus down by 21.9%
GST Council is likely to meet on February 20
to discuss a proposal to slash tax on cement from 28% to 18% and also consider
a recommendation of a Group of Ministers (GoM) on housing that advocates 5% GST
in under-construction properties and 3% GST for affordable housing.
The market is expected to remain volatile in
view of terrorist attack on CRPF Jawans in J&K. Investors
are, therefore, advised to invest in fundamentally good companies on