Weekly Market Summary

The Securities and Exchange Board of India has allowed stock exchanges to extend the trade timing from the present 10 am to 3.30 pm to 9am to 5 pm, reports NDTV Profit. The reason: the market regulator believes it is important to align Indian markets as far as possible with international markets, as it would attract international trading. Details on implementation are awaited.


Market Summary


It was a volatile week for our market that continued to be under pressure. Experts feel if there is a correction in the market it would be healthy. Next week is F&O expiry so expect some volatility and interest rates are unlikely to be changed. Earnings too have been in line with expectations, so by month end the market will get a clearer direction. This week's figures were: Sensex and Nifty both down almost 3%. BSE Midcap index was down 2.1%, BSE Smallcap index down 1.3% over the week.BSE Oil & Gas index was down 6.5%, BSE Consumer Goods index down 6%, BSE Realty index down 3.5%,BSE Metal index down 2.2%. BSE IT index was up 3.25% and BSE FMCG index up 1.25 3%.


It was a flat close for our market on last day with a late selloff wiping out all the early morning gains. Our market underperformed in the global space. Sensex shut shop at 16810, up 21 points and Nifty at 4997, up 8 points from the previous close. CNX Midcap index was up 1.07% and BSE Smallcap index was up 0.34%. The market breadth was positive with advances at 668 against declines of 598 on the NSE. Top Nifty gainers includedITC, Hindalco and IDFC while losers were GAIL, RIL &L&T.