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Weekly Market Review
Outlook Of The Week | March 18

Bulls tighten the grip on the market in the week gone by with major indices ending with a gain of about 3.5%. The market mood remained up-beat throughout the week as the investors continued hunt for the fundamentally strong stocks. Market made an optimistic start as the economic affairs secretary expressed confidence that the fiscal deficit target of 3.4% for 2018-19 would be met as shortfall in indirect tax collection would be compensated by lower expenditure. Adding to the confidence Commerce and Industry Minister Suresh Prabhu said that the government has set a target of attracting $100 billion foreign direct investment over the next two years. There was consolidation in market as the IIP data slipped to 1.7% in Jan,19 from 7.5% a year ago on the back of subdued performance of the manufacturing sector, especially capital and consumer sector. Besides, the CPI (retail inflation) increased to 4 month high of 2.57% in Feb,19. Meanwhile, WPI in the month of Feb,19 surged to 2.93% on account of rise in the prices of food and fuel products, after falling to 10 months low of 2.76% in Jan,19. But rally in final day of trade helped markets surpass their 38,000 (Sensex) and 11,400 (Nifty) levels. Sentiments turned optimistic on report that RBI has decided to inject long term liquidity worth $5 billion into the system through foreign exchange swap arrangement with banks for three years. The rally was supported by continuous buying by FIIs in the domestic market.

 

The Sensex and Nifty closed the week with gain of 1353 points (3.69%) and 392 points (3.55%) respectively,

Mid Cap and Small Cap indces gained 2.48% and 2.12%, respectively, during the week.  

FIIs were the net buyers whereas DIIs were the net sellers during the week.

 

Sector Wise Movement

All Sectoral indices ended the week in positive, BSE Realty (up by 119.8 points or 6.5%), BSE BANKEX (up by 1828.6 points or 5.9%), BSE Finance (up by 301.3 points or 5.1%), BSE Oil & Gas (up by 645.1 points or 4.5%) and BSE PSU (up by 305.7 points or 4.3%) were the top gainers.

CG Power was up by 21%

The investors will keep a watch on the FOMC meeting and US Fed on 19th Mar. Also the Goods and Services tax (GST) Council meet which will be held on March 19. This GST council meeting will finalize guidelines to support the changed tax rate structure for under construction houses.

The market is expected to remain volatile. Investors 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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