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Weekly Market Review
Outlook Of The Week | March 25

Extending winning streak for fifth straight week, Indian equity benchmarks ended the holiday truncated week with a gain of around 0.3%. Markets started the week with an optimistic start as traders took encouragement with the trade ministry''s statement that India''s trade deficit narrowed to $9.60 billion in February, dragged down by a fall in gold and oil imports, as compared to $14.73 billion in January. Afterwards, markets witnessed consolidation, as anxiety persisted with report that there is a 70% chance of El Nino climate cycle forming towards the second half of this year, a forecast that does not augur well for the monsoon season in India. On final day of the week, markets pared some of their gains as traders turned cautious with Fitch Ratings in its latest report cut India''s economic growth forecast for the coming financial year starting April 1, 2019 to 6.8% from its previous estimate of 7%, on weaker than expected momentum in the economy.

 

The Sensex and Nifty closed the week with gain of 140 points (0.37%) and 30 points (0.26%) respectively,

Mid Cap and Small Cap indices lost 0.62% and 0.53%, respectively, during the week.  

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

 

Sector Wise Movement

BSE Realty up by 112 points or 5.7%, BSE Power up by 19 points or 0.96%, BSE Fast Moving Consumer Goods up by 84.8 points or 0.73%, BSE BANKEX up by 235.8 points or 0.72% and BSE Information Technology up by 81.50 points or 0.54% were the top gainers.

Spice Jet was up by 26%

Whereas,

BSE Auto was down by 897 points or 4.55% , BSE Consumer Discretionary Goods & Services down by 73 points or 1.95%, BSE Oil & Gas was down by 142 points or 0.95%, BSE Metal down by 72.7 points or 0.64% and BSE PSU down by 44.2 points or 0.60% were the top losers

Jubilant Life Science was down by 13.8%

The US Fed has kept the interest rate unchanged and indicated a possibility of change in future. This will be factored in by the market participants in the coming week.

The market participants will also be eyeing the Reserve Bank of India (RBI) Governor Shaktikanta Das'' discussions with representatives of trade bodies and credit rating agencies on interest rate and steps to boost economic activities which is slated to be held on March 26.

 

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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