January tales: Bulls took control on D-Street in last 5 out of 10 years

Nifty50 and Sensex registered a drop of over 1 percent in the first week of 2019 which suggests that we are not out of the woods.

Indian markets witnessed a smart rebound in November and December which helped the benchmark indices recoup losses and close with single-digit gains for the year 2018.

Nifty gave merely 3 percent return in INR terms and (-6) percent return in USD terms, and S&P BSE Sensex gave about 6 percent return in INR terms. Now, as we step into 2019, hopes are building up for a string pre-budget rally.

So will the market surprise investors in the first month of 2019? Taking reference from the past – bulls were able to take control of D-Street in five of the last 10 years in the month of January.

Bulls pushed the S&P BSE Sensex higher by 10.8 percent in January, 2012, followed by 6.3 percent monthly return seen in 2018, and 6.09 percent gain recorded in 2015.

Meanwhile, Sensex was lower by 10.8 percent in January 2011, followed by 6.8 percent drop seen in 2010, and about 5 percent fall in January, 2016.

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