Weekly Market Report: Repo Rate remains same, Rupee dips below to touch all-time low

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The Indian Stock market’s bearish trend continued to extend this week. BSE Sensex fell below 35,000 where are Nifty 50 stood 600 points lower. The constantly depreciating rupee sustained foreign capital outflows and widening current account deficit were among the major reasons for the market free fall.

Closing Stats this week: 

  • BSE Sensex closed at 792.17 points, lower 2.25% or 34,376.99. On the other hand, Nifty 50 went 282.80 points or 2.67% lower to settle at 10,316.35
  • Out of 19 sectoral indices, 16 extended losses on BSE with Oil and Gas leading the fall at 12.68%. The Energy indices lowered 8.52% on the last day of the trading this week.

Weekly Highlights

  • After RBI’s surprising policy decision, Rupee breached its lowest point by hitting 74 per dollar. 
  • Oil Marketing Companies witnessed 10%-12% losses post-Arun Jaitley’s instructions to absorb ₹1 on fuel prices.
  • Chanda Kocchar’s sudden decision to quit ICICI made bank’s share trade 4% higher. 
  • Foreign Institutional Investors (FII) on Monday sold ₹1,841.63 shares. Whereas, Domestic Institutional Investors (DII) bought equities worth ₹1,804.94 crore. 
  • Yes Bank shares jumped 10% higher after the bank disclosed certain parts of its unaudited financial statement for Q2 of FY19.
  • Kotak Bank and Bandhan Bank witnessed a fall post-RBI’s decision to prohibit Bandhan Bank for opening more branches. 

Who Gained this week and Who did not?

On NSE, Uttam Value Stl (+100%), IL&FS Engg Const (+89.10%), Blue Chip India (+50%), Bilpower Ltd (+37.50%), IL&FS Trans (+34.59%) gained the most. Whereas, among the top losers this week were, Ashapura Intimat (-41.67%), HPCL, J Kumar Infra (-33.81%), Raj Rayon (-33.33%), and CKP Leisure Ltd.(-32.50%)

On BSE, IL&FS Engg Const (+88.91%), IL&FS Trans (+34.15%), PMC Fincorp(+33.33%), IL&FS invest (+32.31%), Zim Laboratories Ltd (+32.01%) traded in green. Whereas, Ashapura Intimat (-41.65%), J Kumar Infra (-34.50%), HPCL (-34.18%), Sinner Energy India Ltd. (-32.17%), BPCL (-28.99%) dreaded the most in week ending 5 October 2018.

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