Market last week
Market settled this week on a flat note as nifty settled below the psychological 12000 mark. Strong cues due to signs of progress in US – China trade deal and announcement of reform measure for the realty sector was offset by profit booking witnessed after India’s rating outlook was downgraded to ‘negative’ from ‘stable’ by Moody’s. Rupee weakened to 3 week low based on the same. Positive momentum was witnessed in sectors like Banks while IT, Pharma and FMCG dragged.
Market this week
Trend of the market will be dictated by macro releases. India’s CPI inflation is expected to be on the higher side at 4.3% due to rise in vegetable prices as per consensus estimates. Despite the festive season the IIP is expected to decline to 2.3% as per estimates. Both the data released is expected to put pressure on rate sensitive stocks. However global concerns related to trade war has eased and the same could provide comfort for investors.
Posted: November 11, 2019.
