Closing Stats: The latest trends of Benchmark indices suggest that they have been performing the worst since February 2016. The BSE sense and NSE’s Nifty 50 descended for the third day, reported NDTV
On Friday, BSE Sensex dropped 97 points, 0.27% to close at 36,227.14. NSE’s Nifty 50 slipped 47.10 points, or 0.43% to settle at 10,930.45.
Stock Highlights:
- Infibeam Avenue lost more than 70% because of a viral Whatsapp message regarding the company’s annual general meeting. The company’s clarification didn’t stop it from falling.
- Yes Bank’s share continues to end lower by 9%, in the end, owing to its dubious future and delay in decision about its new leader. The bank has been struggling ever since RBI rejected the extension of CEO, Rana Kapoor. It has nearly lost 34% since beginning.
- IL&FS new debt obligation of ₹395.46 may have a bigger impact on stock market. It defaulted 10 repayments in total.
- In the wake of Government’s import duty hike, Aviation stock went lower by 2%
- Cabinet approval for ₹45,000 package led sugar stocks to trade in a mixed trends
- 300 Stocks on NSE touched highest 52-week low in this week including ata Motors, Vodafone Idea, Hudco, APL Apollo Tubes, IndiGo, and Jet Airways (India).
- NBFC continue to fear liquidity crisis. Regulators may curtail license of 1500 NBFCs because of inadequate capital.
Stocks which gained the most this week
On BSE, National Oxygen (+27.56%), Modern Steel (+27.49%), Vaarad Ventures (+27.42%) , Riga Sugar Company (+27.29%), and Monnet Ispat (+27.22%) were the top players.
The top gainers on NSE included, Prakash Steel (+71.43%), Spacenet Enterprise (+62.50%) , Money Ispat (+27.05%), Ruchi Infra(+25.49%) and Gangotri Text (+24.72%)
Stocks which lost the most this week
Infibeam Avenue Ltd. (-67.58%), Umiya Tubes (49.97%), Adlabs Entertainment Ltd. (-42.23%), TGB Banquets (-36.01%) and Sankhya Infotech (-32.78%) were on BSE’s weekly losers list.
Infibeam Avenue Ltd. (-67.92%), Blue Chip India (50.00%), Uttam Value Stl (50.00), Adlabs Entertainment Ltd. (-42.23%), TGB Banquets (-37.86%) traded in red on NSE.
List of factors that might affect stock returns in next 6 months
- Depreciating Currency– The Indian rupee has posted a fall of nearly 13% this year. The exporters are likely to increase export but in the end the prices are likely to go high affecting stock market the most.
- Higher Crude Oil Price- Crude oil prices have disrupted the Indian from past few weeks now. With US Sanction effective from November 1, the price of the crude oil is sky-rocketing. It has touch $80 per barrel. The trends suggest that it will cross $100 in the coming days.
- Election-2019- Lok Sabha elections 2019 are likely to decide the stock trends. Along with it election of five states in line is a major factor to be considered by investors.
- Global Trade War- The global trade war between US-Chine may force commodity stocks to suffer. Although Finance Minister, Arun Jaitley earlier today stated that US-China trade war make India a manufacturing hub.
- NBFC Crisis- The non-bank financial companies might face difficulty in raising the money post IL&FS crisis.