Profits became an oasis to investors

We already saw that last week markets are rioting with stock sales after a slow recovery of two weeks due to domestic and international issue viz., Expectations of Q2 results are dissatisfied, NBFC’s issue regarding liquidity, H1-B visa issue from USA, Week GDP statistics in China, America interest rates, Tensions between America and Saudi, Rupee fluctuations and crude oil fluctuations. Negative sentiment over markets among investors added to the above.

As per the expert’s opinion, The NIFTY 50 may fluctuate between 9,900 – 10,550. International issues may become crucial because the internationally growth rate is not satisfactory, Tensions between America and Saudi are disturbing the investor sentiment. This week October derivative contract is going to close and indices may have fluctuations with covers.

On Monday – Fuel and NBFC stock put together made a hassle to the indices profits, which reflected weak market started with red. Consecutively markets are in negative from the past 3 market days. Rupee depreciation and crude oil hit $80 mark again and investor sentiment influenced the markets turn into red. S&P SENSEX and NIFTY 50 loose 181 and 58 points respectively.

Open High Low Close
S&P SENSEX 10,405.85 10,408.55 10,224.00 10,245.25
NIFTY 50 34,689.39 34,748.69 34,082.76 34,134.38

On Tuesday – Assumptions on international trade war fears the markets and dragged down the Nifty 50 to 6 months low and S&P Sensex below 34000 points. America – Saudi issue, Brexit, Italy budget scenario, IT & Pharma stocks under pressure and the investor weak sentiment dragged down the market. Even at the end of the sessions some losses are covered due to short covers, but markets conclude the day with red.

Open High Low Close
S&P SENSEX 10,152.60 10,222.10 10,102.35 10,146.80
NIFTY 50 33,935.88 34,073.92 33,742.75 33,847.23

On Wednesday – Bull stopped the bear after 4 consecutive day looses of markets. Decrease in crude oil prices, appreciation in rupee and investor are interested in buying pull the markets up over i.e., S&P Sensex above 34,000 points and Nifty 50 above 10200. Rupee strengthens 41 paces and stood at ₹78. 61 which is 8 weeks high. S&P Sensex gained 187 and Nifty 50 gained 78 points for the day.

Open High Low Close
NIFTY 50 10,278.15 10,290.65 10,126.70 10,224.75
S&P SENSEX 34,203.70 34,300.97 33,726.07 34,033.96

On Thursday – Bear resumed its punch on bull and on Thursday markets are fluctuating heavily due to depreciation in the rupee, international markets weekend, Derivative contract closure time because investors wants to cover their position in the contract. S&P Sensex lose 344 and Nifty 50 lose 100 points for the day.

Open High Low Close
NIFTY 50 10,135.05 10,166.60 10,079.30 10,124.90
S&P SENSEX 33,778.60 33,838.76 33,553.18 33,690.09

On Friday – Markets are fluctuated due to NBFC liquidity issues, Effect over international trade issue because of high interest rates, political issues between America and Saudi and investor negative sentiment added and market got tumbled. S&P Sensex loose 341 and Nifty 50 loose 95 points for the day. Giant companies viz., Maruti Suzuki, Yes bank results are hit the investor sentiment negatively. IT and Banking stocks are gone under pressure due to sales. Assumptions of Fiscal Deficit reached 95 per cent added to the above.

Open High Low Close
NIFTY 50 10,116.25 10,126.95 10,005.00 10,030.00
S&P SENSEX 33,776.80 33,776.80 33,291.58 33,349.31

 S&P Sensex and Nifty 50 are down by 966 and 273 points respectively for the week.


Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News & Article

Financial Advisory Services at Your Door Step.

If your occcupied don't have time to plan your financial investment we are here to guide.