Midcap and Smallcap outperformed Sensex, up by 1.99% and 1.95%. Initially, the market touched new highs ahead of positive global cues, but later, the falling currency, increase in the crude oil prices, the expiry of August futures and options, and GDP release data kept investors wary, capped profits.
Table of Content
Major Equity Indices Performance
Indian equities posted gains during the last week. Mid cap and small cap indices outperformed Sensex, recorded weekly return of 1.99% and 1.95%, respectively. However, Sensex gained 1.03% while S&P BSE 200 and S&P BSE 100 ended at a weekly return of 1.32% and 1.24%, respectively. In the opening days, the market continued the record winning streak and touched fresh highs ahead of positive global cues. It traded in gains because of Fed Chairman proposed a gradual hike in rates in the forthcoming period ahead of the strong income growth and solid job data. Besides this, the US-Mexico trade pact and Canada’s announcement to re-join NAFTA boosted sentiments. On Wednesday, in the last hour of the trading session, the market witnessed significant sell-off largely driven by increasing crude oil prices and depreciating currency value that touched a record low of Rs. 70.59 USD. Further, the expiry of F&O and release of first quarter GDP data kept investors cautious, as a result of which, Sensex posted marginal losses on the last two trading sessions.
Sectoral Indices Performance
Gaining Sector
Sectoral indices traded in green with S&P BSE Power stood as the biggest sectoral gainer, returned 4.85% followed by S&P BSE Metal gained by 4.67%. Depreciating rupee value brought rally in IT and healthcare sector up by 3.29% and 3%. FMCG, Capital Goods, Auto, Bankex, Oil & Gas, and Consumer Durables also witnessed buying pressure; rose 1.74%, 1.51%, 1.01%, 0.95%, 0.27% and 0.23%, respectively.
Losing Sectors
Only one sector, S&P BSE Energy traded in red last week and posted a loss of 1.53%.
Top performers & losers
Well, amid fall in the rupee and weak global markets, the key Indian equity indices can pair all its initial gains to trade in the red in the upcoming week. According to market observers and experts at MySIPonline, the rapid selling pressure could be witnessed in consumer durables, banking, and capital goods stocks. Globally, the markets can broadly trade in a negative note due to the persistent trade tensions. This was all for the past week. Such ups and downs are a part of this roller-coaster ride. Investors shouldn’t get affected with such short-term slides. For more details on where to invest in now, stay tuned with us.
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