The record-setting Indian indices

International signs and foreign developments are expected to guide the market this week. The message is that concerns about the slowdown of the economy could have an impact on the market. There are predictions that growth may be lower than the first quarter growth rate. Fluctuations in the background of the November derivative contracts expiration. Investors may get signals from crude movements and the dollar’s FIIs’ investment trend compared to the dollar. Internationally, there are hopes for a US-China trade agreement. US-China quarterly GDP figures and news from China are important.

On Monday: The Week Starting Day Indices are on the upswing. Expectations for the US-China trade deal has reached new highs in the wake of government investment divestment announcements. Predictability of the Reserve Bank of India lowering key rates in the next leverage review has strengthened the sentiment of investors. Telecom and metal stocks were up, and the total market value of BSE-listed companies, which are considered wealthy investors, rose in a single day. As the Asian markets closed in profit as usual, European shares were trading positively. S&P SENSEX and NIFTY 50 gained 530 and 159 points respectively.

Open High Low Close
Nifty 50 11,922.45 12,084.50 11,919.75 12,073.75
S&P Sensex 40,439.66 40,931.71 40,393.90 40,889.23

On Tuesday: This week’s second day indices were down slightly from the new peaks. The S&P Sensex fell 68 points and Nifty 36 points, while investors in telecom, IT and Vahana stocks plunged into profit. Fears of GDP growth have hit the sentiment of political hydra-makers in Maharashtra. Bharti Airtel’s long-term rating was downgraded as the sarcasm fell heavily. Fitch Group India Ratings & Research’s forecasts for the July-September quarter were limited to 4.7 per cent of GDP. S&P SENSEX and NIFTY 50 lost 68 and 36 points respectively.

Open High Low Close
Nifty 50 12,110.20 12,132.45 12,006.35 12,037.70
S&P Sensex 41,022.85 41,120.28 40,710.20 40,821.30

On Wednesday: Index records continued to grow. The benchmark Sensex closed above the 41,000 mark for the first time, with banking, oil and auto buying backing up. Nifty also surpassed 12100 points. The short covering came in the wake of the November derivative contracts closing. Positive signals were received from international markets. S&P SENSEX and NIFTY 50 gained 199 and 63 points respectively.

Open High Low Close
Nifty 50 12,068.50 12,114.90 12,055.15 12,100.70
S&P Sensex 40,979.39 41,075.76 40,848.70 41,020.61

On Thursday: Indexes create records. New, to the maximum, the investors are undermining. For the second consecutive day, the profit margins continued. Shares of ICICI Bank and Reliance Industries were trading at Rs. On the international front, Asian markets ended negatively, while European markets traded similarly. S&P SENSEX and NIFTY 50 gained 110 and 50 points respectively.

Open High Low Close
Nifty 50 11,915.15 11,946.20 11,867.60 11,884.50
S&P Sensex 12,132.10 12,158.80 12,099.95 12,151.15

On Friday: After two days of run the benchmark indices cooled off and ended lower but recovered from the day’s low on the back of buying seen in the last hour of trade. At close, the Sensex was down 336.36 points while Nifty was down 95.20 points.

Major global markets were mostly positive for the week, the Chinese markets being an exception. Chinese equities remained under pressure on the back of ongoing turmoil in Hong Kong. Tensions rose between US and China after the US passed a law supporting the Hong Kong protests. The BSE-30 Index gained (1.1%) in the week to reach a new life-time high. Markets were buoyed by progress on phase-1 of the US-China trade deal, resolution of stress in financial sectors and multiple government initiatives to arrest the ongoing economic slowdown. All the sectoral indices ended in the red led by the metal, auto, pharma, PSU bank, FMCG, IT and infra. S&P SENSEX and NIFTY 50 lost 336 and 95 points respectively.

Open High Low Close
Nifty 50 12,146.20 12,147.40 12,017.40 12,056.05
S&P Sensex 41,138.26 41,143.22 40,664.18 41,130.17

Over all the week S&P Sensex and Nifty 50 gained 434 and 142 points respectively.


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