Hence, the oil price movement will be closely watched by the street in the coming weeks. With the concerns over the demand outlook amid rising fears of a recession in the US and Europe, Brent crude prices have gradually been declining and trading around a six-month low. The movement in the US dollar index, which measures the value of the US dollar against a basket of the world’s leading currencies, will also be important to focus on, especially after the recent recovery in the DXY.Īfter its recent bottom, the US dollar index resumed rally again, rising 2.86 percent in last more than a week period to close at 108.10 on Friday as the possibility for another 75 bps hike in the September policy meeting seems to be increasing. They have bought nearly Rs 18,000 crore worth of shares in the current month, whereas DIIs have taken that strong market mood opportunity to book some profits by selling more than Rs 6,000 crore worth of shares during the month. Besides, global cues especially from the US and figures of foreign flows will remain on the radar.įoreign Institutional Investors ( FIIs) remained consistent buyers this month, barring one day when they were looking net sellers may be due to stake sale in Sona Comstar by Blackstone on August 18. In the coming week, the scheduled derivatives expiry will keep the participants busy. Amid all, the broader indices, midcap and smallcap, too witnessed profit booking.” However, realty and FMCG managed to post decent gains. Most sectoral indices traded in tandem and ended flat to slightly higher. Consequently, the benchmark indices, Nifty and Sensex, lost the majority of the weekly gains and settled at 17,758 and 59,646 respectively. However, the decline on the final day engulfed the gains of the last 3 sessions as participants preferred to book some profits off the table. The tone was upbeat for most of the week, tracking favourable global markets and continuous buying from foreign investors. said: “Markets ended marginally in the green last week as profit-taking on Friday trimmed all the gains. NSE volumes were higher than the average of the last few months, suggesting aggressive selling after a sustained rise.Ījit Mishra, VP – Research, Religare Broking Ltd. Interest rate-sensitive sectors such as banking, auto & realty stocks witnessed heavy profit-taking. Markets This Week: Domestic equity index Nifty snapped an eight-day winning run on Friday but managed to end in the green on the weekly scale.
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