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Weekly Market Review
Outlook Of The Week | April 01

The market continued in bullish mode recording gains for sixth straight weeks. Finance Minister said, the liquidity situation in the economy was comfortable, and will further improve with the central bank''s move to infuse Rs 35,000 crore through the rupee-dollar swap arrangement. Rally in final two days of the week helped markets to settle past their crucial psychological levels buoyed by the India Meteorological Department director general, K.J. Ramesh''s statement that India''s monsoon is likely to be a robust and healthy one this year provided there is not a surprise El Nino phenomenon. Some support also came with Commerce Minister, Suresh Prabhu''s statement that the country''s merchandise and services exports would touch about $540 billion mark in the current fiscal year ending March 31, 2019. He added that exports are growing at a healthy pace and shipments of goods would reach over $330 billion, similarly, services exports would touch about $210 billion. The Nikkei India Services PMI rose to 52.5 in February 2019 from a three-month low of 52.2 in January.  

The Sensex and Nifty closed the week with gain of 508 points (1.33%) and 166 points (1.45%) respectively,

Mid Cap and Small Cap indices performed better and recorded gain 2.67% and 1.82%, respectively, during the week.  

FIIs continued to be net buyers whereas DIIs were net sellers during the week.

 Sector Wise Movement

BSE PSU (up by 290.8 points or 3.96%), BSE Consumer Durables (up by 714.66 points or 3.09%), BSE Oil & Gas (up by 456.83 points or 3.08%), BSE BANKEX (up by 991.14 points or 2.99%) and BSE Finance (up by 164.99 points or 2.63%) were the top gainers on the BSE sectoral front while, no sectoral indices closed negative.

Jet Airways was up by 19.3%

Investors would be keeping an eye on the RBI Monetary Policy Committee (MPC) meeting which is scheduled from April 2 to 4.

Market-men will also be waiting for the release of Nikkei Services PMI data for the month of March which is slated to be announced on April 4.

 

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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