Stock markets didn’t take RBI rate cuts indications

This week markets will work for four days only, on the account of Gandhi Jayanthi Wednesday markets won’t work and Indian benchmark indices are going to influence with both domestic and global issues. The RBI monetary policy review is going to be crucial. The NBFC also considers RBI actions on the cash availability crisis. Signals can be found from crude oil prices, rupee moves compared to Dollars, and the FII inflow. US-China trade developments, political uncertainty in the US, global economic downturn and Brexit will have an impact on global markets.

On Monday: Markets ended with a surge in sales for banking shares. The decision comes as the Delhi High Court has decided to investigate financial irregularities in the Indiabulls group. With this, all shares including YES-BANK and RBI Bank, which lent to Indiabulls Group, fell. The rupee closed at 70.87 with 0.31 paisa loss against the dollar. S&P SENSEX and NIFTY 50 lost 155 and 38 points respectively.

Open High Low Close
NIFTY 50 11,491.15 11,508.28 11,390.80 11,474.45
S&P SENSEX 38,873.12 38,873.12 38,401.09 38,667.33

On Tuesday: For the third consecutive day, the indices were dull. The shares were traded with relatives in the banking sector. Weak mastery statistics have affected copies. After losing 700 points at Intraday, Sensex was finally able to overcome half the losses. S&P SENSEX and NIFTY 50 lost 362 and 115 points respectively.

Open High Low Close
NIFTY 50 11,515.40 11,554.20 11,359.90 11,359.90
S&P SENSEX 38,813.48 38,923.78 37,929.89 38,305.41

On Wednesday: Gandhi Jayanthi

On Thursday: Fourth consecutive day indices were down for fear of a slowdown in the economy. The impact of the RBI monetary policy review decisions on investor vigilance has been affected. The US announcement of new tariffs on European products has put pressure on the global market. S&P SENSEX and NIFTY 50 lost 199 and 46 points respectively.

Open High Low Close
NIFTY 50 11,322.25 11,370.40 11,257.35 11,314.00
S&P SENSEX 38,137.87 38,310.93 37,957.56 38,106.87

On Friday: Major global equity markets sold off during the current week on fears of economic weakness after the US ISM manufacturing purchasing managers’ index declined to 47.8 in September, the lowest since June 2009. The BSE-30 Index declined 3 percent in the current week. Equity markets saw some correction as investors got cautious about declining asset quality in the banking sector, risk of weakening of demand after tepid data prints on auto sales, GST collections and core sector. S&P SENSEX and NIFTY 50 lost 434 and 139 points respectively.

Open High Low Close
NIFTY 50 11,389.75 11,399.60 11,158.90 11,174.75
S&P SENSEX 38,401.49 38,403.54 37,633.36 37,673.31


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