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%.

Stock Market Weekly Update, Nifty Prediction For Tomorrow

share market The Indian Equity Markets are going strength with Sensex and Nifty at historic life-time peak levels almost every day of the week. The smart rally was witnessed in spite of mixed macro-economic data and monthly auto sales numbers.

Sensex opened the week at 33,260, and made a high of 33,733 & low of 33,164 and closed the week at 33,685 whereby it gained 528 points over week.

The Nifty opened the week at 10,353 and made a high of 10,461 & low of 10,323 and closed the week at 10,452 whereby the Nifty closed the week gaining 129 points through the week.

Stock rising sentiment got increased after index heavyweights such as ICICI Bank, Bharti Airtel, Maruti, Suzuki India Ltd, Glenmark, Vedanta and Punjab National Bank came out with good Q2 numbers.

On economic front, the World Bank, on 31 Oct 2017, released the Ease of Doing Business Report, 2018. India has jumped 30 ranks over its rank of 130 in the Report 2017.

At global front, England raised its benchmark interest rate as a first time in 10-years record, while US President Trump chose Jerome Powell as the Federal Reserve Chair person after the current Chair Janet Yellen’s tenure ceases.