Weekly Market snapshots: Market posts Sixth weekly straight gains

stock investment Share Markets scaled fresh all time highs in the week ended day on Friday, 12 January 2018, led by financials and energy stocks, since investors expected the monthly inflation data for clues on the central bank`s monetary policy. The BSE Sensex rose 88.90 points to close at new high of 34,592.39 while the Nifty-50 jumped up 30.05 points to record 10,681.25.

This was the 6th weekly straight gain for the domestic benchmarks. During the week, the Sensex gained 438.54 pts, or 1.28%, whereas the Nifty-50 rose 122.40 pts, or 1.15%. The Nifty50 surpassed its previous record closing of 10,651.20 hit on Thursday.

Optimistic trade in global market and hopes of revival in the first half domestic corporate earnings from is upholding the healthy sentiment.

Domestic institutional investors have bought equities to the tune of Rs 7.70 billion, while FPIs sold shares worth Rs 6.24 billion on net basis on Thursday, as per data.

Shares of TCS slipped 0.56% after the Company on Thursday reported a 3.6% fall in net profit for the Q3 at Rs 6,531 crore. The other IT major Infosys Ltd posted a 38.3% growth in consolidated net profit to Rs 5,129 crore for the Oct – Dec quarter of 2017-18.

In the Sensex pack, ICICI Bank emerged as the top performer with a rise of 2.63%, followed by Maruti Suzuki at 1.27%. Other major gainers included ONGC, Reliance, Dr Reddy’s Laboratories, HDFC Ltd, Larsen and Toubro, IndusInd Bank, Tata Motors and Mahindra and Mahindra, rising by up to 1.26%.

The rise in sector-wise, the oil and gas rose 0.69%, banking sector 0.50%, capital goods 0.48%, metal sector 0.45%, auto 0.28%,, infrastructure 0.14% and IT 0.03%.

Weekly Stocks and Events for the week ended 24 Nov 2017

stock market weekly reportsThe market registered notable gains in the week ended Friday, 24 Nov 2017, on strong global cues coupled with some domestic triggers. The Sensex picked up 91 pts on Friday to finish at a 3-week high of 33,679.24, influenced by gains in IT stocks and consumer durables stocks. The Nifty reclaimed the 10,400-mark to scale an intraday high of 10404.50 but profit taking dragged it down to 10389.70, with a gain of 40.95 points, or 0.40%.

Sensex opened the week at 33,365 and made a peak of 33,738, low of 33,288 closing the week at 33, 679. At the same time, the Nifty opened the week at 10,287 and made a high of 10,404 and low of 10261 closing the week at 10,389. Hence, all through the week, the Sensex gained 1 percent or 336.44 pts, while the Nifty rallied 1.03 percent or 106.10 pts. Moody’s S&P kept India-Sovereign rating unchanged with “Stable” outlook.

The global ratings agency maintained that growth will remain strong over coming 2 years and the country will keep up good external accounts position and fiscal deficit will be mostly in line with expectations.

Among important domestic events during the week, the govt promulgated an ordinance to modify the Insolvency & Bankruptcy Code-2016, aiming to prevent unscrupulous, undesirable persons from misusing the provisions of the code.

The Parliamentary Affairs Cabinet Committee on Friday recommended that the winter session of Parliament be scheduled from 15 Dec 2017 to 5 Jan 2018.