FINBLAB RESEARCH: INDIAN STOCK MARKET WEEKLY REVIEW
Fantastic week as far as Indian Stock Market is concern!
Ignoring the fact of higher crude oil prices (> 75 USD a barrel), highest bond yield in the US markets (3%) after 2014, various other global news flows and a better Q4 corporate earnings has helped both the Sensex and Nifty to reach towards the levels of 35,000 and 10,700 respectively on a week ended on 27th April 2018.
The BSE Sensex gained 554 points or 1.61% whiles the NSE Nifty gains 129 points or 1.21% on a weekly basis as compared to previous week. Here are the details on Indian Stock Market Weekly Review (23 Apr 2018 to 27 Apr 2018) by Finblab.
23-APR-2018
- A highly volatile trading session as far as Indian Stock Markets is concern!
- Opened firm in the morning session ignoring subdued global cues, both the Sensex and Nifty traded at a day’s high till the afternoon session where the Sensex has gained more than 200 points while the Nifty was up by more than 55 points thanks to the IT sectors, in particular, stocks like TCS and Infosys. But heavy profit booking in the last half an hour of trade erodes all the gains.
- The BSE Sensex closed 35 points higher at 34,451 while the Nifty 50 closed 20 points higher at 10,585.
- Today was the big day for Tata Consultancy Services (TCS). The country’s leading software services exporter has created history by becoming the 1st Indian listed company to cross the $100 billion market capitalisation milestone (INR 6,62,726 Cr) on the BSE, in intra-day trade.
- TCS listed on the bourses 14 years ago, on 25 August 2004 at a 16.2% premium, at INR 987.50, against an issue price of INR 850.
24-APR-2018
- Solid and positive trading session at the Indian Stock Markets!
- Ignoring the higher crude oil prices (traded well above 75 USD a barrel), stable corporate earnings and heaving buying in some of the major large-cap stocks like Reliance (Jio added 87.4 lakh subscribers in March compared to 83 lakh subscribers in previous month), TCS and many others have helped both the Sensex and Nifty extend gains on the second consecutive day of the week.
- The 30-share BSE Sensex gained 166 points to close at 34,617 while the 50-share NSE Nifty rose 30 points to close at 10,614.
- Nifty today close above 10,600 marks for the first time after almost two and half months thanks to the positive Asian and European cues.
25-APR-2018
- Heavy selling was seen across the sector on the bourses today, a day before April month expiry!
- Both the Sensex and Nifty closed in the red on Wednesday trading session, with the Sensex losing more than 100 and Nifty was down by more than 40 points following correction in global stocks.
- Bond yield in the US reached to as many as 3% after 2014 also spoil the sentiment of the markets today.
- The BSE Sensex today was down 115 points to close at 34,501 and the NSE Nifty fell 44 points to close at 10,571.
26-APR-2018
- A wonderful day of expiry on the Indian Stock Markets today!
- After trading almost flat to minor positive for the major part of the day, the market witness a late of surge in the last half an hour of trade to end the April month series on a high note.
- Major buying was seen across the sector but it was the Banking stocks that outperformed the market today. Bank Nifty today gaining around 200 points and closed above 25000.
- The Sensex was up 212 points to close at 34714, and the Nifty ended 47 points higher at 10618.
27-APR-2018
- A Fabulous beginning of the May series on the Indian bourses!
- Both the Sensex and Nifty continues their winning uptick on the very first day of the new (May) series on Friday’s trading session. The rally in the indices was backed by strong build-up on the long side in the F&O segments as the Korean rivals begin peace, end 65-year of cold war.
- The BSE Sensex was up 268 points to close at 34982, while the NSE Nifty was up 78 points to close at 10695.
- Maruti Suzuki, India’s largest car maker today posted below market expectations Q4 numbers where the Net profit of stand at INR 1,882 Cr, 10% higher than in the same quarter a year ago. Net sales grew by 0.83% to INR 20,594 Cr during the current quarter as compared to INR 20,423 Cr posted by it in the same quarter in 2016-17.
Indian Stock Market Weekly Review – A Week Gone By
Future Outlook –
It is fair enough to conclude that the bulls have a strong grip on the Indian Stock Markets in anticipation of better corporate earnings and a normal monsoon this year.
Global Credit Rating Agency Fitch today (27 April 2018) affirmed India’s sovereign rating at BBB- with a STABLE outlook, saying that the country’s medium-term growth potential is strong.
Going forward market will closely watch the Q4 numbers as well as the Karnataka Elections and its outcome.
On technical parameters, the Nifty index may face a resistance near 10,700 levels since it has made a run-up of more than 7% from the low of 9,952 but if it manages to cross that 10,700 level decisively than it may go to the levels of 11,000.
Positive Factors
- Better Corporate Earnings
- Normal Monsoon Forecast
- Stable GTS Collection Data
Negative Factors
- Higher Crude Oil Prices (75 USD)
- Higher US Bond Yield (3%)
- Nifty P/E Ratio (> 26%)
Relevant Link – Indian Stock Market Weekly Review
Also Read –
1) Finblab’s Valuepick for of the month of April – RUCHIRA PAPERS LIMITED
2) Finblab’s March ’18 Valuepick BALKRISHNA INDUSTRIES LIMITED (25% returns in just 50 days)
Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I ( Vishal Dalwadi ) or “Fin Blab” do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.
