“Market slid due to broad-based selling across sectors as rising yield and weak rupee cast cloud over investor’s sentiment. Volatility may continue due to lack of positive triggers in the domestic market while rising oil prices will impact domestic macros in the near term,” says Vinod Nair of Geojit Financial Services.
The carnage in the broader market continued as both small and midcap indices underperformed benchmark indices for the week that ended on February 15.
The S&P BSE Small-cap index and the S&P BSE Mid-cap index dropped 2.96 percent and 2.71 percent respectively, compared to both S&P BSE Sensex and Nifty50 which fell by about 2 percent respectively in the same period.
“Market slid due to a broad-based selling across sectors as rising yields and a weak rupee cast clouds over investor’s sentiment. Volatility may continue due to a lack of positive triggers in the domestic market, while rising oil prices will impact domestic macros in the near term,” Vinod Nair, Head of Research, Geojit Financial Services, told Moneycontrol.
“Global markets turned negative due to obstacles in the US-China trade deal,” he said.
In the S&P BSE 500 index which fell 2.3 percent for the week ended saw 11 shares outperforming the index which includes names like Dilip Buildcon, Shankara Building Products, Yes Bank, Redington India, Infibeam Avenues, Jindal Stainless, Reliance Capital, Dewan Housing Finance, Sun Pharma Advanced Research, Adani Power, and Dish TV.
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