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A gap-up on Thursday and a follow-up rally on Friday helped the Nifty move closer to the crucial 7,500 mark in what was a highly volatile week. Following a recovery in global stocks triggered by reduced expectations of further U.S. Fed rate hikes this calendar year, the index managed to recoup its intra-week losses.
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A sharp recovery towards the end of the week helped the Nifty gain nearly 2 percent to close above 7,550. Positions were lighter after derivatives expiry and the markets seemed to be looking at the bright side after a steep correction despite lacklustre corporate results and a weakening rupee. FIIs continued their selling spree with net selling of $171.5 million.
A private money trader counts rupee notes at a shop in Mumbai August 1, 2013. REUTERS/Vivek Prakash/Files
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The Bombay Stock Exchange (BSE) building is pictured next to a police van in Mumbai, India, August 24, 2015. REUTERS/Danish Siddiqui/Files
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A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, June 29, 2015. REUTERS/Danish Siddiqui/Files
(Any opinions expressed here are those of the author and not of Thomson Reuters)
Markets across the world had one of their worst opening weeks ever on rising concerns of a global economic slowdown led by China and geopolitical concerns in the wake of North Korea’s nuclear test. In India, the Nifty index ended the week at 7,601, down 4.5 percent.
(Any opinions expressed here are those of the author and not of Thomson Reuters)
(Any opinions expressed here are those of the author and not of Thomson Reuters)
Markets inched up about 1 percent in a dull week with the Nifty closing at 7,963. The low participation was on account of holidays for major institutions and volumes remained low.
(Any opinions expressed here are those of the author and not of Thomson Reuters)
(Any opinions expressed here are those of the author and not of Thomson Reuters)
Markets staged a spirited recovery during the week with the Nifty ending at 7,762, up 2 percent and comfortably in the support band of 7,750-7,800. Indexes were mainly influenced by the U.S Federal Reserve’s rate decision and the government’s mid-year economic review.