Markets remained volatile throughout the week with sustained selling pressure in the first three trading days after a rise in crude oil prices and concerns over the trade deficit widening to a three-year high. The last two days saw sentiments improving after the Cabinet approved key reforms such as the formation of a Goods and Services Tax (GST) national anti-profiteering authority and hiking the carpet area cap for housing interest subvention.
Indian markets fell after a six-week rally with sentiments affected over fears that a rise in oil prices may negatively affect India's terms-of-trade, weaken growth and add to pressure over meeting the fiscal deficit target.
The Nifty scaled record highs after India's ranking jumped 30 spots to number 100 in the World Bank’s Ease of Doing Business list. The extended rally was led by gains in realty and pharmaceuticals. Decent results for India Inc also boosted sentiment.
Markets jumped higher this week after the Indian government provided a 'stimulus' in the form of recapitalisation of public-sector banks that was higher than market expectations.
Markets closed Thursday’s special Diwali Muhurat trading on a negative note with the Nifty closing down 0.2 percent for the week at 10,146. Trading for the truncated week was mostly rangebound as a mixed set of key corporate results kept markets busy.
Markets logged their second week of gains as earnings season kicked off on an optimistic note. The Nifty crossed its all-time high, ending the week at 10,167 with gains of 2 percent. Mid- and small-caps clearly underperformed with the focus remaining on large-caps as key frontline companies announced their results.
India’s benchmark indexes logged gains of 2 percent during the week as firm global market cues along with positive macro data back home aided sentiment. Market participants were also buoyed by expectations from the GST council meeting on Friday. The mid- and small-cap indexes
Markets registered sharp losses during the week as geopolitical worries continued along with persistent selling by FIIs. Weakness in the rupee also dampened sentiment.
Geopolitical worries were back in focus on Friday with markets witnessing the sharpest single-day fall of 2017.
The Nifty closed the week above the 10,000 mark in spite of heavy selling by foreign institutional investors (FIIs) and ongoing geopolitical tensions. IPOs continued to hog the limelight and saw a good response.
Finally, someone in a Bollywood film lives in Virar. This far-flung and much reviled Mumbai suburb and its people have been wholly ignored by India’s popular cinema, whose scope usually doesn’t extend beyond the tried-and-tested urban milieu.