During the past one week, strong corporate results, recovered rupee valuations, and the US-China trade talks favoured investors’ sentiments and brought the market to fresh closing highs. However, the gains remained under pressure due to no significant outcome from the US-China meeting resultant both the countries charged tariffs on imports from each other. Let’s find out more about the changes that occurred and what can be expected from them in the coming time.
Table of Content
Major Equity Indices Performance
Last week, S&P BSE Midcap outperformed Sensex at a weekly return of 1.51%. However, Sensex, S&P BSE 200, and S&P BSE 100 traded with a gain of 0.80%, 0.95%, and 1.04%, respectively. On the other side, S&P BSE Smallcap ended flat. During the truncated week, the market touched new highs due to positive sentiments ahead of the US-China trade talk and rebounded rupee value. Moreover, strong corporate results in the pharma sector fueled the buying interest of many investors. However, gains were restricted due to no significant results in the US-China meeting. Investors’ sentiment dampened after the tariffs imposed by the US and China on each others’ import.
Sectoral Indices Performance
Gaining Sectors
Among all the BSE sectoral indices, BSE Capital Goods stood as the top-gaining sector which returned 4.80%. The sector witnessed strong buying interest following one of the industry majors, Larsen & Toubro which announced the proposal to buy back 6 crore equity shares worth Rs. 9000 crore. Barring capital goods, energy, power, and healthcare sector were traded positively at a weekly return of 4.47%, 3.25%, and 3.11%, respectively. Metal, Auto, FMCG, and Oil & Gas sectoral indices gained 2.52%, 0.38%, 0.63%, and 1.85%, respectively.
Losing Sectors
S&P BSE consumer durable remained the worst-performing sector with a weekly loss of 1.83%. Sell-offs in S&P BSE Bankex and S&P BSE IT sector brought sectoral indices down by 1.33% and 0.26%, respectively.
Top Performers & Losers
Conclusion
This was all for the past week. After going through the information, you can see that there were a few sectors which outperformed and then there are others who dropped drastically. Such turbulence is expected to see every week, but this shouldn’t stop one to invest. These are short-term effects, thus they should not hamper any of your long-term investment goals. The best you can do is make an investment through Systematic Investment Plan, where you can gain benefit from rupee-cost averaging even when there is volatility in the market. To seek guidance on any mutual fund scheme, connect with the experts working at MySIPonline.
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