After having a decent rally in the January series (where the Nifty rallied 5.65% and the Sensex rose by 6.5%), the Indian Stock Markets finally entered the week which the Investors, traders and almost everyone have been waiting for a long-time “THE WEEK OF BUDGET 2018-19”
Almost every citizen in the country (especially the Tax-Payer) had big hope from the budget, due to the fact that it is the last Budget of Narendra Modi led NDA government, but looking at the kinds of announcement which have been made in the Budget 2018-19 and weekly data, it is a kind of week that the investors never wants to remember for a long-time. On a weekly basis, the Nifty 50 index was down by 309 points, while the BSE Sensex was down by more than 900 points. Here is the Indian Stock Market Weekly Review (29 Jan 2018 to 02 Feb 2018) by Finblab.
29-JAN-2018
Giving a thumps-up to the Indian GDP numbers at 7% to 7.5% in the Economic Survey by the Government, the Indian Stock Market remain in a positive mood on the first day the week. The BSE Sensex rallied more than two-hundred points before closing at 36,283 (up 233 points) while the NSE Nifty jumped 61 points to close at 11,130.
India’s largest Housing Finance Company (HDFC) today posted a good set of numbers, wherein the profits jumped by whopping 145% and sales grew by more than 12%. Newgen Software Technologies made a modest debut on the bourses today, surging 3% over the issue price of INR 245.
30-JAN-2018
The Indian Stock Market took a breather on Tuesday session after closing at fresh record highs on Monday (29 Jan) and ended 250 points lower. Global weak sentiments ahead of FOMC (Federal Open Market Committee) meeting and Union Budget, to be presented on 1st of February, keep both the Sensex and Nifty in red throughout the day.
Minor recovery were seen in the last hour of trade after IOC’s earnings (the company declares 1:1 bonus also) and further fall in crude oil prices. The BSE Sensex broke the psychological level of 36,000 intraday, and finally closing down 250 points at 36,034 while the NSE Nifty was down by 81 points and close at 11,050.
31-JAN-2018
Reacting to the negative global cues (especially from the US, where Benchmark 10 years Treasury note yields closed at 2.7% – highest since 2014) and in anticipation of Long-Term Capital Gain Tax, the Indian Stock Markets remained week throughout the session. The BSE Sensex ended marginally lower at 35,965 (down by 69 points) while the NSE Nifty closed at 11,028 (down by 22 points)
Construction major Larsen & Toubro today posted better than estimated numbers – where the profits up by 53%, while the Banking major ICICI Bank posted week numbers – where the profits were down by 32%
01-FEB-2018
Historic Thursday for the Indian Stock Markets! The markets witness high degree of volatility today as the Finance Minister Arun Jaitley introduce Long-Term Capital Gain Tax (10% on profits of more than INR 1,00,000) into the markets and several other taxes. The markets witness more than 900 points of zigzag movements before the Sensex closing at 35,907 (down by 58 points) while the Nifty closed at 11,017 (down by 11 points). The interesting fact of the today’s trade is that both the FIIs as well as DIIs remained net buyer in the cash segment, and bought stocks worth 1099 Cr and 752 Cr respectively.
02-FEB-2018
It will be considered as a Black Friday of the Indian Stock Market. The equity markets witness one of the sharpest falls in the recent times, especially after the implementation of GST and demonetisation. It was like a bloodbath on the Dalal Street.
Several announcements from the Union Budget like the levy of long term capital gains tax (LTCG) and slippage on the fiscal deficit side as well as rising 10 years bond yields dragged the Sensex down by 840 points to close at 35,067. The NSE Nifty too down by 256 points and closed at 10,761.
Indian Stock Market Weekly Review – A Week Gone By
Future Outlook –
Considering the various announcements made in the Union Budget as well as global scenario, it is likely that the Indian Stock Market may witness high volatility in the next week as well. Though the Indian Equity Market is in structural up trend, the markets (Nifty) could fall another 3% to 5% from hereon. A big point of relief for the Indian Equity Markets is the Q3 numbers which are in line with the expectations or above expectations. This could be the driving force for the markets. Let’s see …
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.