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Saturday, 27 May 2017

Stock Market Weekly Reports- 22 May - 26 May 2017

Domestic stocks clocked robust gains in the week ended Friday, 26 May 2017 led by steady buying in index heavyweights ITC, ICICI Bank and Infosys. Both the Sensex and the Nifty hit record closing high. However, the BSE Mid-Cap and Small-Cap indices underperformed the Sensex during the week. 

The Sensex and Nifty logged modest gains on Monday, 22 May 2017 in a volatile trade, when the Sensex rose 106.05 pts or 0.35% to settle at 30,570.97, its highest closing level since 17 May 2017.

Indices had steep losses on Tuesday, 23 May 2017 on reports that India has hit army posts across the Line of Control. The Sensex on the day lost 205.72 pts or 0.67% to settle at 30,365.25, its lowest closing level since 15 May 2017. 

Key indices registered modest losses on Wednesday, 24 May 2017 in a volatile session of trade, losing sentiment by escalating Indo-Pak tensions. Moody's down-grading its sovereign credit rating on China further deteriorated risk appetite. The Sensex, on the day fell 63.61 pts or 0.21% to settle at 30,301.64, its lowest closing level since 12 May 2017. 

On Thursday, 25 May 2017 the day witnessed with high volatility since traders rolled over positions in the F&O segment from the near month May 2017 series to June 2017 series. The Sensex rose 448.39 pts or 1.48% to settle at 30,750.03, a record closing high for the index. 

In the week ended Friday, the Sensex ended 278.18 pts higher at 31,028.21, while the Nifty closed up 85.35 pts at 9,595.10. The Sensex jumped 1.85% to settle at 31,028.21, a record closing high and the Nifty-50 index surged 1.77% to settle at 9,595.10, as a record closing high. 

Week Ahead: In the coming week, the market trend will dictate with Macro-economic factors, global market trend, FPIs and DIIs’ investment, companies earnings factors the movement of rupee against dollar and crude oil price movement are factors.

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