SENSEX holding 40K levels

The Indian Benchmark index, Sensex recorded its all-time high i.e. 40,688 this week, and Nifty once again crossed the psychological mark of 12k in this week, due to supportive cues from domestic, as well as global markets.

On Friday, throughout the day market remained volatile, post afternoon we have seen profit booking after Moody’s downgrading India’s outlook to “Negative” from “Stable”, but FY20 outlook remains positive.

FII remained net buyer in Indian stock market, to the tune of Rs.2806 crore in cash segment, whereas DII’s opted for a profit booking.

FM Ms Nirmala Sitharaman’s announcement to boost the economy, Rs.25000 crore funding towards incomplete housing projects (govt. to invest 10000 in AIF, SBI & LIC to invest 15000), boosted sentiments in realty & cement sectors.

Stocks seen rallied are DLF, due to the announcement of funding in the realty sector, Infosys on not receiving any supporting evidence for whistle-blower complaints, and Varun-beverages on strong September quarter earnings.

Shital Ufale
Shital is part of the equity desk at Moneyfrog and holds master’s in management, specializing in Finance. Post-market, she involves herself in research, reading & writing articles (blogs).

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