4th Jan 2019 | 15:01 PM IST
4th Jan 2019 | 15:01 PM IST
The first week of 2019 started on weak note as Nifty tanked almost 2% in a week, Indian benchmark indices witnessed a selling pressure amid a global slump with a concern of global economic slowdown,worsened monthly auto sales numbers coupled with high interest rate and tight liquidity condition,a drop in GSR collection indicating government shortfall in target & concern over India's fiscal health can worsen as government is likely to announce a massive relief package for farmer.
Nevertheless, the week bought some cheerful news for the banking sector, The central bank stated improvement in the asset quality of the bank during first-half of FY2018-19,On the other hand one-time restructuring scheme for certain small borrowers on the loan not exceeding Rs 25 Cr is likely to be positive for banks and Nbfc. The heavy-weight HDFC twins, Reliance, Eicher, M&M, Vedanta saw a significant drop in there share price, the pain was also visible in the broader market. Even though the global growth has slowed, India seems to be better placed to continue its growth, As the Indian economy is major driven by domestic consumption and only 18% of India's GDP can be attributed to export.
1) Indian benchmark indices Ended flat on the last day of the year, the Sensex was down 8.39 points at 36068.33, and the Nifty up 0.02% at 10862.50. 2) Among the sector indices, BSE ended higher led by the BSE Metal Index's 1.4 % gain. While, S&P BSE Telecom Index was a top loser, down 0.80 percent. 3) On Tuesday, Indian equity benchmarks kicked off 2019 on a strong note, Nifty 50 Index advanced 0.44 percent or 48 points to 10,910. 4) On Wednesday, Indian benchmark indices declined taking negative cues from global markets, and as investors turned cautious ahead of corporate earnings beginning next week. Nifty down 1.08% at 10792.50. 5) Indian benchmark indices declined for a second straight day On Thursday, around 1% following a selloff in Asian markets. 6) The Nifty lower by 120.20 points or 1.11% at 10672.30. Overall sell-off among sectors, financials, automobiles, and metals bled. 7) Indian benchmark indices Sensex and Nifty 50 advanced on Friday led by auto and metal stocks.
-In global markets, world shares started 2019 on a lower note, with stocks dive across Europe and Asia along with US equity futures after evidence of slowing Chinese growth, Shares in Asia fell again on Thursday and US stock futures dropped sharply after Apple Inc cut its revenue forecast due in part to weaker sales in China, adding to concerns about the slowing global economy.
- This week broader market Nifty midcap & smallcap index has seen the pain with benchmark indices, Shrank more than 2%.
Shares of Kolte-Patil Developers jumped more than 8 percent in a week after rating agency CRISIL revised long-term outlook on the company's bank loan facilities. The Pune-based real estate company informed exchanges on Monday that CRISIL reaffirmed its long-term rating on company's bank loan facilities of Rs 600 crore (enhanced from Rs 300 crore earlier) at A+. The rating agency revised its outlook on debt instruments to positive from stable earlier.
Shares of the Eicher Motors company plunged more than 10 percent, after Royal Enfield reported a 13 percent slump in sales on a yearly basis to 58,278 units in December, according to its stock exchange filing. The stock has slumped 12.46 percent in two days posting its biggest two-day decline since Oct. 5.
Kajaria Ceramics & Indraprastha Gas is on the upside while M&M is on the downside.
Niveza Editorial Desk :
We are a team of stock market nerds trying to stay ahead of the herd. We spend our grey cells...
The usual trap where every newbie investor gets trapped is multibagger penny stocks. These stocks trade at the most discounted prices. That's why investors initially fell in love with these stocks as prima facie these stocks seemed to be the
Various popular stock market news portals and TV channels discuss trending stocks and provide free share market tips based on technical charts and often without in-depth research. Our research desk analyses these trending stock market tips and
Share Market News
Our Analysis This week even after the RBI's rate cut announcement the market changed its outlook from bullish to the corrective phase. The market corrected for the fifth consecutive
What is a multibagger stock? A stock which can give you manyfold returns. Yes, that's true. Multibagger stocks are defined in a similar manner. The legendary investor Peter Lynch has termed Multibagger stocks in his book One Up On Wall