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Weekly Market Review
Outlook Of The Week | May 06

Extending the southward journey for second straight week, Indian equity benchmarks ended the holiday truncated week with a loss of around 0.33%, as traders remained on sidelines ahead of the election results later this month. Market started the week on pessimistic note as IMD shared the pre-monsoon rainfall from March to April has recorded 27% deficiency. Trader also remained cautious with private report stating that the decline in economic growth momentum from the Oct to Dec, 18 quarter is going to continue. As per the, report, the subdued consumption demand and election related uncertainty is expected to weigh on India’s industrial production. Market extended the loses with the Finance Ministry’s monthly report stating that India’s economy slowed down slightly in the last fiscal due to decline in growth in private consumption, slow increase in fixed investment and muted exports.      

 The Sensex and Nifty closed the week with loss of 104 points (0.27%) and 42 points (0.36%) respectively.

Mid Cap and Small Cap indices recorded loss 1.86% and 1.79%, respectively, during the week.  

FIIs & DIIs both continued to be net seller were during the week.

 Sector Wise Movement

BSE Information Technology (down by 384.79 points or 2.40%), BSE Healthcare (down by 312.13 points or 2.16%), BSE Fast Moving Consumer Goods (down by 250.87 points or 2.12%), BSE TECK (down by 153.74 points or 1.95%) and BSE Auto (down by 264.61 points or 1.38%) were the top losers

Yes Bank was down by 26%

 

While BSE Metal (up by 144.66 points or 1.27%), BSE Oil & Gas (up by 88.99 points or 0.59%) and BSE Consumer Durables (up by 54.35 points or 0.23%) were the few gainers on the BSE sectoral front.

DCM Shriram was up by 10.30%

A meeting between US commerce secretary Wilbur Ross with Suresh Prabhu scheduled to be held on May 6. Will discuss the Washington''s withdrawal of benefits under the GSP programme and the ending of exemptions to sanctions on Iranian oil imports. Traders would be waiting for the release of the Nikkei Services PMI data for the month of April on May 6 and industrial production (IIP) data for the month of March on May 10. With the official start of the earnings season, market-men will be eyeing the Q4FY19 results announcements from major corporate

We expect the market to witness healthy consolidation at the current levels. Investors are, therefore, advised to invest in fundamentally good companies on every 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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