S&P Sensex ended flat while Nifty 50 took a small dip

This week indices will work for 4 days only, on the account of Guru Nanak Jayanthi, Tuesday markets will not work. International signs, corporate news, second-quarter results and financial statistics are expected to guide the markets this week. Domestically, concerns over the economic system and the recent rally may affect the market. Share-based moves are expected to drive the market as corporate companies’ quarterly results approach the end. September Industry, retail and wholesale inflows are expected to be key to the market. DIIs were net sellers for the second consecutive week. Internationally, uncertainty over the US-China trade agreement continues. If oil prices slide and the rupee moves, market gains will be hampered.

On Monday: During the trading session, the indices closed with slight gains. Banking shares are back. In the wake of political tensions in Hong Kong and uncertainty over the US-China trade deal, international sentiment has weakened. The rupee closed 0.19 paisa lower at 71.47 against the US dollar. S&P SENSEX and NIFTY 50 gained 21 and 5 points respectively.

Open High Low Close
Nifty 50 11,879.20 11,932.65 11,853.95 11,913.45
S&P Sensex 40,316.50 40,417.44 40,150.97 40,345.08

On Tuesday: Guru Nanak Jayanthi

On Wednesday: Weak industrial output figures hit markets. The selling of the rupee has led to uncertainty over the US-China trade deal. The SBI estimates that GDP growth will be limited to 5% in the current fiscal year, raising fears for the economy. Asian markets ended with losses in Hong Kong. European indices traded in the same trend. S&P SENSEX and NIFTY 50 lost 229 and 73 points respectively.

Open High Low Close
Nifty 50 11,908.30 11,946.80 11,823.20 11,840.45
S&P Sensex 40,346.43 40,346.43 40,061.23 40,116.06

On Thursday: Indexes continued to fluctuate over the course of the day and finally ended in profit. The Sensex gained 170 points and Nifty 32 points in the wake of the news that the Reserve Bank of India is likely to reduce the repo rate once again in its review next month to encourage the consumer sentiment in a system of macroeconomic challenges. S&P SENSEX and NIFTY 50 gained 170 and 32 points respectively.

Open High Low Close
Nifty 50 11,858.75 11,895.65 11,802.65 11,872.10
S&P Sensex 40,178.93 40,178.93 40,026.99 40,286.48

On Friday: The initial slippage of the indices was blinded. Profits were limited as investors turned to selling late with weak growth signs. The telecom shares were hit in the wake of the news that the telecom department has set a minimum price for data and voice tariffs. Shares of Green mark were buoyed by attractive quarterly results. S&P SENSEX and NIFTY 50 gained 70 and 23 points respectively.

Open High Low Close
Nifty 50 11,904.20 11,973.65 11,973.65 11,895.45
S&P Sensex 40,408.20 40,650.06 40,308.09 40,356.69

Over all the week S&P Sensex gained 33 points and Nifty 50 lost 13 points respectively.

 

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