Benchmark Indices ended with charm in the first week of FY-20

This week market going to influence by the both domestic and global issues because RBI may cut the rates in its policy meet due to decrease in growth and maintaining a stance on inflation. Expectations on monthly statistics also influence the markets. The rupee and crude oil price fluctuations may add to the above.

On Monday: Indices are twinkling on the first trading day in the FY 2019-20 because of expectations of RBI policy meet rate cuts and GST collection across the country increased in March. S&P SENSEX gained 400 points in Intraday which is peak but concluded with 199 point gain due to the sales pressure. S&P SENSEX and NIFTY 50 gained 199 and 45 points respectively.

NIFTY 50: Open:11,665.20, High:11,738.10, Low:11,644.75, Close:11,669.15
S&P SENSEX: Open: 38,858.88, High:39,115.57, Low:38,808.74, Close:38,871.87

On Tuesday: BSE S&P SENSEX stood above the level of 39,000 points for the first time ever and touched 39,121.69 points which is peak after 39115.17 points because of expectations of RBI policy meet rate cuts. Banking, IT, Vehicle share boosted the indices. The rupee appreciated by 40 paisa added to the above. S&P SENSEX and NIFTY 50 gained 185 and 44 points respectively.

NIFTY 50: Open:11,711.55, High:11,729.35, Low:11,655.85, Close:11,713.20
S&P SENSEX: Open: 38,988.57, High:39,121.69, Low:38,846.96, Close:39,056.65

On Wednesday: SKYMET, a weather forecast report released by the respective institute sprinkled on the two days profits on Wednesday which the report contains low rainfall in the current financial year. Crude oil price increase and rupee fluctuations and America – China Issues influenced the markets. S&P SENSEX and NIFTY 50 lost 180 and 69 points respectively.

NIFTY 50: Open:11,735.3, High:11,761.00, Low:11,629.15, Close:11,643.95
S&P SENSEX: Open: 39,167.05, High:39,270.14, Low:38,826.56, Close:38,877.12

On Thursday: Indices are tumbled the markets on Thursday too due to decrease of projection of GDP even RBI cut the rates. Giant rating company FITCH released a report on expectations on Indian growth is 6.8% in 2019-20 and 7.1% in 2020-21. Rupee impaired 71 paisa added to the above. S&P SENSEX and NIFTY 50 lost 192 and 46 points respectively.

NIFTY 50: Open:11,660.20, High:11,662.55, Low:11,559.20, Close:11,598.00
S&P SENSEX: Open: 38,935.75, High:38,939.35, Low:38,581.04, Close:38,684.72

On Friday: Indices are fluctuated heavily, but finally concluded in positive even FMCG and PSU bank witnessed some selling pressure, while IT, metal, infra, energy and auto ended higher. Fluctuations among rupee and crude oil supported the indices to redirect up and a majority of the stocks are in positive momentum. S&P SENSEX and NIFTY 50 gained 178 and 68 points respectively.

NIFTY 50: Open:11,639.35, High:11,688.50, Low:11,610.35, Close:11,665.95
S&P SENSEX: Open: 38,839.52, High:38,958.60, Low:38,701.04, Close:38,862.23


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