Right Horizons – Weekly Market Report [ 22 May to 26 May ]

RH-Weekly Report

rh-tocIndian Equity—Weekly update :

Indian share markets continued their positive momentum on expectations of a good monsoon and the impending GST implementation. Indian equities maintained the positive trend for the third consecutive week, with the benchmarks S&P BSE Sensex (up 1.9%) and Nifty 50 (up 1.8%) ending at record highs. The sentiment was primarily boosted by the positive global trend after the US Federal Reserve signaled a cautious approach to future rate hikes. Banking sector was the prime focus of public attention. Private leaders like ICICI ,HDFC and Yes bank closed with a strong note

Resistance for Nifty:-9070/8447        Support for Nifty:-9403/9067

Indian Debt—Weekly update :

Government bond prices ended higher during the week on speculation that the Reserve Bank of India (RBI) could adopt a softer stance at its next policy meeting. Speculation was built up on a sharper-than-expected fall in the latest domestic consumer inflation figure, easing fears of an interest rate hike by the RBI in the coming months.

Global Market Update:

Most markets across the globe ended in the green on tracking region-specific cues. US Treasury prices ended lower as government and corporate bond supply offset safe-haven buying underpinned by the Manchester terror attack. Global crude oil prices declined on disappointment with the Organization of the Petroleum Exporting Countries’ (OPEC) decision to extend production cuts by only nine months as against expectations of twelve months.

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rh-weekly-report1Market Commentary – India:

  • Past Week, Sensex moved up by 1.27% and Nifty was up by 1.21%. Rupee depreciated by 0.02% vs USD (64.50/USD vs 64.51/USD previous week).
  • Top gainer of the week is Bharath Petroleum (8.11%) and top loser was Cipla(-12.90%)

 

Top Market News – India:

  • Tata Communications and Mercedes-AMG Petronas Motorsport explore the potential of the Internet of Things to boost team performance Read More
  • Pension fund managers can now invest NPS corpus in REITS and InvITs Read More
  • UTI AMC set to hit IPO market Read More

 

Top Industry News – India:

  • Myntra to expand private label business to reduce dependence on discounts Read More
  • Alibaba said to lead $1 billion funding in Chinese start-up Ele.me Read More
  • Special tariffs for charging electric vehicles only way to promote them: Tata Power-DDL’s Praveer Sinha Read More

 

Top Market News – Global:

  • Facebook, Amazon, Google call for government surveillance reform Read more
  • Budget will create millions of new jobs: Trump Read more
  • All you need to know about the OPEC’s oil pricing gimmicks Read more

 

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