Weekly Market Update: Market Traded in Red, S&P BSE Midcap Suffered Highest Loss
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
Last week, all the broader domestic equity indices closed in the red. S&P BSE Midcap and S&P BSE small cap lost maximum, down by 2.23% and 1.72%, respectively. However, large cap indices; Sensex, S&P BSE 200, and S&P BSE 100 traded at a weekly loss of 0.66%, 1.12%, and 1.02%, respectively. Initially, weakened rupee to record low and weak global cues dampened investors sentiments. The US-Canada trade talk on NAFTA was not ended with any resolution, thus it also disappointed investors. Further, the slowing growth of the domestic service sector due to lower demand and increasing input cost extended the market losses in the later week. Heightened worries over trade tension curbed investors. In the last two days, the market witnessed gains with buying in pharma, auto, and metal stocks.
Sectoral Indices Performance
Gaining Sector
Sectoral Indices ended on a mixed note. BSE Healthcare stood as the top gainer posted weekly return of 2.30% followed by S&P BSE Metal registered 1.62% profit. Rupee’s crash to its lowest point benefited IT sector booked a profit of 1.49%. Buying in energy sector booked 1.15% weekly return.
Losing Sectors
Out of the 11, 7 sectors were traded in red, among all, the FMCG sector lost the highest value, fell 4.59% followed by consumer durable down by 3.82%. Capital goods, bankex, power, and oil and gas also witnessed sell-off, suffered the loss of 2.31%, 1.97%, and 0.72%, respectively. Auto sector remained almost flat.
Top performers & losers
On a final note, the effects seen today are not permanent. This market is full of ups and downs, and thus there was a lot of turbulence in the past week.
Several sectors performed well, and there were the other few who faced a downfall, thus happened to trade in red. This was all about the past week in a nutshell. To learn more about the mutual fund’s market or seek investment-related advice, connect with our experts at MySIPonline.
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