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Weekly Market Review
Outlook Of The Week | June 01

The market started the week on optimistic note and closed on fresh record highs on Monday as the RBI said it will inject Rs 15,000 crore of additional liquidity into the financial system in the month of June 2019. The markets traded volatile on Tuesday, impacted with the Federation of Indian Chambers of Commerce & Industry’s (FICCI) statement that India’s slowing economic growth is of serious concern and the country needs to urgently cut tax and interest rates to revive the economy. However, as per a report that the commerce and industry ministry are considering a major export promotion scheme to ensure expeditious refund of all un-rebated central and state levies and taxes imposed on inputs that are consumed in exports of all sectors. The market halted three days rally on Wednesday. Profit booking in recent gainers, also weighed on trading sentiments. Indian equity markets failed to sustain initial rally on Friday and closed with minor losses on the back of weak cues from global markets.

The Sensex and Nifty closed the week with gain of 279 points (0.71%) and 79 points (0.66%), respectively.

Mid Cap and Small Cap indices closed with higher gains of 1.01% and 1.14%, respectively, during the week.  

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

Sector Wise Movement

BSE IT (up by 4.36%), BSE Teck (up by 3.58%), BSE Utilities (up by 2.91%), BSE Power (up by 2.49%) and BSE Oil & Gas (up by 2.48%) were the top gainers

BSE Auto (down by 3.22%), BSE Healthcare (down by 0.68%) and BSE Telecom (down by 0.66%) were the few losers on the BSE sectorial front.

Markets will be watching the outcome of the monetary policy scheduled on 6th June, 19.


We expect the market to consolidate in the coming week.

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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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