Uneventful week for Indian markets with two day holidays for Holi and Good Friday.
Monday - Sensex down 0.50%, Nifty down 0.31%, Midcap down 0.18%
Markets stayed jittery as UPA's critical ally SP continued making noises about early elections keeping the markets nervous.
Tuesday - Sensex up 0.34%, Nifty up 0.14%, Midcap down 0.18%
Markets broke away from their recent trend of losses and posted some gains. Nothing eventful.
Wednesday - Holi
Thursday - Sensex up 0.70%, Nifty up 0.73%, Midcap up 1.52%
Markets posted a gain on the last day of fiscal 2013. Nothing eventful.
Friday - Good Friday
Friday, March 29, 2013
Friday, March 22, 2013
Weekly Market Commentary - Mar 18 - 22, 2013
Quite a bad week for Indian markets. Sensex and Nifty fell by around 4%, while CNX Midcap declined by more than 5%.
Monday - Sensex down 0.69%, Nifty down 0.64%, Midcap down 0.3%
Markets ended down with not so optimistic view from RBI monetary policy review meeting next day. Broader sentiment was also negative due to Cyprus bail out plan of taxing its bank depositors made markets nervous. Moody's comments on warning on country's rating due to sustained food inflation also added to the woes of the market.
Tuesday - Sensex down 1.48%, Nifty down 1.53%, Midcap down 1.51%
DMK's decision to pull out from ruling UPA govt sent shockwaves through the market. RBI's decision to limit its repo rate cut to 25 bps and leaving CRR unchanged at 4% took the banks and realty firms down. RBI also sent a clear signal to the market to not to be too hopeful of a rate cut in the near future.
Wednesday - Sensex down 0.65%, Nifty down 0.90%, Midcap down 2.08%
Markets continued to be in red as the political climate turned uncertain. Markets were facing a real risk of early election which will put all the reforms initiated by UPA in limbo and attempts to bring down the fiscal deficit under control will have no air to breathe.
Thursday - Sensex down 0.48%, Nifty down 0.63%, Midcap down 1.22%
Markets continue to grapple with uncertain political climate, bank scandal and RBI's signal of keeping the monetary stance hawkish.
Friday - Sensex down 0.30%, Nifty down 0.13%, Midcap down 0.26%
Markets remained range bound for the last day of the week.
Monday - Sensex down 0.69%, Nifty down 0.64%, Midcap down 0.3%
Markets ended down with not so optimistic view from RBI monetary policy review meeting next day. Broader sentiment was also negative due to Cyprus bail out plan of taxing its bank depositors made markets nervous. Moody's comments on warning on country's rating due to sustained food inflation also added to the woes of the market.
Tuesday - Sensex down 1.48%, Nifty down 1.53%, Midcap down 1.51%
DMK's decision to pull out from ruling UPA govt sent shockwaves through the market. RBI's decision to limit its repo rate cut to 25 bps and leaving CRR unchanged at 4% took the banks and realty firms down. RBI also sent a clear signal to the market to not to be too hopeful of a rate cut in the near future.
Wednesday - Sensex down 0.65%, Nifty down 0.90%, Midcap down 2.08%
Markets continued to be in red as the political climate turned uncertain. Markets were facing a real risk of early election which will put all the reforms initiated by UPA in limbo and attempts to bring down the fiscal deficit under control will have no air to breathe.
Thursday - Sensex down 0.48%, Nifty down 0.63%, Midcap down 1.22%
Markets continue to grapple with uncertain political climate, bank scandal and RBI's signal of keeping the monetary stance hawkish.
Friday - Sensex down 0.30%, Nifty down 0.13%, Midcap down 0.26%
Markets remained range bound for the last day of the week.
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