FINBLAB RESEARCH: INDIAN STOCK MARKET WEEKLY REVIEW
The markets continued to soar and record fresh historic highs amidst high volatility again on the 3rd week of 2018. The Nifty 50 gained 214 points while the BSE Sensex gained 920 points on a weekly basis. Here is a Weekly Review (15 Jan 2018 to 19 Jan 2018) by Finblab.
15-JAN-2018:
The Indian Stock Market continued its upward journey on Monday as well. Both the indices NSE and BSE remaind firm all through the day backed by strong domestic buying. The BSE Sensex rallied 252 points to 34,844 while the NSE Nifty closed above 10,700-mark for the first time, gaining 61 points at 10,742.
16-JAN-2018:
The markets open on a week note on Tuesday backed by weak rupee and rising bond yields. Heavy selling pressure was seen across sectoral indices, especially in Auto, Energy, Metals, and PSU banks. The Sensex was down 72.46 points, or 0.21%, at 34771.05, and the Nifty down 41.00 points or 0.38% at 10700.50.
17-JAN-2018:
After a week trade on Tuesday, The bull runs continued at Dalal Street as equity benchmarks ended at fresh record closing highs on Wednesday despite tepid global cues. The government’s reduction in requirement of additional borrowing for FY18 that painted a robust fiscal picture and likely early resolution to NPA accounts lifted market sentiment. The 30-share BSE Sensex closed above 35,000 levels for the first time today, rising 310.77 points or 0.89 percent to 35,081.82. The 50-share NSE Nifty hit 10,800 intraday but failed to hold the same level at close, gaining 88 points or 0.82 percent at 10,788.50.
18-JAN-2018:
It was a day of high volatility. Though the Benchmark indices (BSE and NSE) finished the day at fresh record closing highs but the broader markets under-performed by a huge margin. The 30-share BSE Sensex surged 425.54 points to hit all-time high of 35,507.36 intraday, before closing up 178.47 points at 35,260.29. The 50-share NSE Nifty gained 28.50 points at 10,817 at close.
19-JAN-2018:
The Dalal Streel remains in a bullish mode on Friday as well. All benchmark indices ended another session at record closing high. Encouraging earnings, gradual boost through change in GST rates, Positive global cues and hopes of good full-fledged Union Budget are key reasons for today’s rally.
Snapshot A Week Gone By
Future Outlook:
It is a third consecutive week where the Indian Stock Market ends on a positive note amid high volatility. The trend is likely to continue backed by the strong Q3 results and also with the fact that FII turned buyer since last couple of days. Last week on January 2018 likely to be more volatile as the big event lined up “The Budget”. Indian Stock Market may witness Pre-Budget rally. Let’s hope for the best.
Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I ( Vishal Dalwadi ) or “Fin Blab” do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.
