Weekly Market Outlook for the Week ended October 11, 2019
The Indian market closed the week ended October 11, 2019, on a positive note, after rebounding from lower levels witnessed early in the week. The bounceback in the index came on the back of renewed optimism that US and China will negotiate for a trade deal amidst high-level discussion between the two countries. The BSE Sensex gained 1.2% for the week to end at 38,127.08 and the NSE Nifty 50 gained 1.17% for the week to close at 11,305.05.
Among sectoral indices, 6 out of the 11 sectoral indices ended in green for the week, led by Nifty Metal Index’s 1.7% gain. Other prominent gainers for the week were Nifty Pharma (+1.6%), Nifty Financial Services (+1.4%), Nifty Bank (+1.1%), Nifty Private Bank (+0.8%) and Nifty FMCG (+0.3%). Nifty Media index closed flat for the week, while Nifty Auto (-0.1%), Nifty IT (-0.1%), Nifty PSU Bank (-0.3%) and Nifty Realty (-0.3%) indices closed the week in red.
The broader markets also participated in the rally, as the Nifty 500 Index ended 0.8% higher for the week, led by gains in companies like Bandhan Bank, Berger Paints, Adani Green Energy, Bharti Airtel, and Vodafone Idea. Adani Green Energy (+20.87%), Bandhan Bank (+20.47%), Bharti Airtel (+12.78%) and Berger Paints (+12.54%) were prominent gainers for the week, while Aurobindo Pharma (-22.65%), Jain Irrigation (-19.56%), DHFL (-32.21%) and Reliance Capital (-22.74%) were prominent losers for the week.
