Weekly market update (11th May – 15th May)

Overall performance:

Indian stock market started with on a good note this week but ended at lower note and market saw the most volatile week because of many reasons such as resurgence trade tensions between China and US and Rs 20 lakh package which announced by PM Narendra Modi attracted investors and indices to rise by 2 percent. After the announcement of details of this stimulus package by Finance Minister Nirmala Sitharaman, market witnessed decline in indices.

On 11th May, SENSEX opened at 31,479.74 and closed at 31,561.22 while on Friday market closed at 31,097.73 down by 382.01 points or 1.7 percent compared with opening price on Monday. On the other side, NIFTY opened at 9,226.9 on Monday and closed at 9,136.85 on Friday lower by 90.05 points or 1.2 percent. However, the S&P BSE 500 Index increased by 10-30 percent which includes around 30 stocks. The S&P BSE mid-cap index increased by 0.67 percent and the S&P BSE Small-cap index increased by 0.47 percent.

Global indices, currencies and commodities:

Global indices, DAX was trading at 10,818.48, down by 86.00 points or 0.79% on Monday while today it was trading 10,465.17, up by 128.15 points and NASDAQ was trading at 9,121.32 up by 1.58% or 141.66 points while now it is trading at 9,014.56, up by 70.84.
When market closed on Monday, Gold was trading at Rs 45,656 which is now trading at Rs 47,381 and silver was trading at Rs 42,972, and currently trading at Rs 46,718.
On Monday, at the time of closing of Indian indices, USD was trading at Rs 75.74 which is now trading at Rs 75.56. EURO was trading at Rs 81.96, currently trading at Rs 81.98 and GBP was trading at Rs 93.37 which is now trading at Rs 91.89.

Sector wise update:

On Friday, NIFTY bank closed at 18,833.95 which was around 19,600 on Monday when market opened, lower by around 766.05 points. While, NIFTY Auto which increased 4.26 percent on Monday, declined by 97.35 points or 0.73% closing at 13,196.35 on Friday.

Top 5 gainers:

Share price of jubilant life sciences increased by 21 percent this week closing at 472.40. Vedanta gained 20 percent after they decided to delist at price of Rs 87.50, closing at Rs 92.95 on Friday. Shares of Indian cements jumped by 16 percent this week and on Friday it gained by 13.22 percent, closing at Rs 114.30. MphasiS share price increased by 14 percent this week, closing at Rs 845.30 and share price of Escorts gained 11 percent this week and closed at Rs 823.55.

Top 5 losers:

Reliance industries share price fell by 6.56 percent or by 102.40 points and closed at Rs 1,459.40 on Friday. Share price of Dr. Reddys Lab decreased by 6.25 percent or 248.90 points, closing at 3,735.10, then GAIL India fell by 6.08% or 5.55 points, closing at Rs 85.80, IndusInd bank shares declined by 4.92 percent or 21.65 points, closing at Rs 85.80 and share price of tech Mahindra declined by 4.78% or 25.65 points and closed at Rs 510.55 on Friday.

Which stocks were in news?

On Friday, various companies were scheduled to announce their March quarter earnings. This includes L&T Finance and technology services, Cipla, Mahindra and Mahindra financial services, Tata chemicals, Nippon life asset management, Crompton greaves consumer and IIFL Securities. Most of these companies posted losses. Many Auto sector stocks were also in news as share prices of auto companies increased in mid-week. Most active stock by volume were Reliance, ICICI bank, HUL and Maruti Suzuki, Tata motors, Axis bank, Yes bank, Biocon, SAIL and BPCL.

Vedanta was in news after they announced to delist from stock market at a price of 87.50, After online bookings for passenger train started, shares of IRCTC locked in 5 percent upper circuit closing at Rs 1,303.55 and up by 62.05 points on Monday. Stocks of aviation sector saw slight increase after announcement of packages by finance minister, Indigo gained around 2 percent, closing at Rs 984 and spice jet increased around 3% and closed at Rs 45.60 on Friday.

Fourth tranche includes structural reforms in various sectors