All Time High Market Closes On A Downward Tone
Suparna / 04 Apr 2014
The preceding week for the Indian markets was a mixed bag. The indices hit the all time high level for the ninth straight session, owing to great deal of FIIs inflow. On YTD basis the FIIs have brought equities worth Rs 3999 crore. But in the last few trading sessions of the week investors were cautious and a huge amount of profit booking was witnessed in all major sectors.
Indices after hitting their ninth straight life time high mostly remained on mixed note for the entire week. Both the benchmark indices, Sensex and Nifty, closed the week with nominal losses of 0.66% and 0.62% respectively.
This week on the domestic front we saw the most important event, where the Reserve Bank of India (RBI) kept the repo rate unchanged at 8% in the annual monetary policy. Also the reverse repo rate remained unchanged at 7%. The controlled food inflation, strengthening rupee and increased foreign currency inflow supported the decision to keep the rate unchanged.
Another important announcement of the week was the Reserve Bank of India issuing of banking licence to IDFC and Bandhan financial service.
The cautious steps by the markets are in tandem with the upcoming general election, as India heads into the five-week long elections starting on Monday. Speculations are that Bharatiya Janata Party (BJP) will sweep to power.
Most of the sectoral indices ended last trading session of the week in the red with Auto, FMCG and Capital Goods stocks being the biggest losers. Realty, Consumer Durable and metal stocks were the major gainers. Hence volatility in the markets cannot be ruled out in the coming week where global factors (if any) will play a vital role.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.