Share Bazar Update- Markets witness terrible fall in 10 months

share bazar bhav

The Rupee fell to 65.16 against the US dollar that too it’s lowest since March, before regaining over its preceding day’s close of 64.79. The yield on the Ten-year govt bond in intraday trade rose to 6.69%, the highest since May, before closing at 6.67%.

Meantime, the US dollar strength on the US Federal Reserve’s plan tends to shrink its balance sheet. North Korea’s new hydro bomb menace and S&P’s downgrade of China also spoiled investor sentiment towards emerging markets.

FPIs pulled out Rs 1242 crore from domestic stocks on Friday, while domestic investors buying was comparatively muted at Rs 520 crore. The India Volatility Index surged 10%.

On the week ended Friday, there were four falling stocks for each one advancing. The BSE Midcap index declined close to 3%. Real estate, Metals and realty were the worst performing sectors. Among Sensex stocks, Tata Steel plummeted about 5%, after base metal prices chopped down due to China downgrade. SBI and ICICI Bank fell about 2% each.

Stock Market weekly review 4-8 Sept, Top advisory company in India

stock market weekly reports

Sensex, Nifty posted modest losses in the week ended 8 Sept 2017, as rising geopolitical worries between the US & North Korea diminished sentiments. In the weekend, BSE Sensex closed higher by 25 points, or 0.07%, to 31,688, while the Nifty 50 edged up by 5 points, or 0.05%, to 9,935.

In the past week beginning from August 31, 2017 to September 07, 2017, market was volatile. Weak GDP data, geopolitical worries are some of the key factors that affected the movements of the Indian indices. Sensex ended 68 pts lower, while Nifty managed to close positively, up 12 pts from the last week.

Increasing foreign investors selling due to premium valuation, lackadaisical earnings season and geopolitical worries kept the dictations for the market. Concerns on the North Korea front persisted, however, the good part was inflows by DIIs (Domestic institutional investors) and vigor in the rupee, which offset the downside.

Lack of clarity on the impact of GST in corporate earnings of the companies added to cautiousness. However, for the coming week, the market would keenly watch for the development in global markets. The key data points to be on the lookout are IIP, CPI and WPI.