Hope You are doing well.
After a deep correction, Indian market started to gain momentum. Last week, BSE Sensex made a record low of 56745.00 but being able to recover and close at 58739.00 levels. While the Nifty50 made a low of 16912.25 and close at 17,511.30 levels.
In the coming week, we expect the consolidation to end and new uptrend will start. Markets are looking towards sustainability of earnings. We expect the macroeconomic situation to continue to improve. RBI, in its latest policy statement, has kept the inflation and growth figures largely unchanged and promised adequate liquidity to the system.
As the economy continues to open up we expect consumer discretionary demand for real estate, automobiles, home improvement, travel, etc. to pick up significantly and provide more power to the overall economic recovery. Government finances are largely in good shape with better-than-expected indirect and direct tax collection.
Sectorally, buying was seen in IT Sector, Metals, while selling pressure was visible in FMCG, Capital goods etc.
During the Week Foreign Net Inflow was 8933.4 crore, whereas domestic net inflow was 6993crore.
Last week, the Indian rupee declined 45 paise to finish at 75.69 on December 10 against its December 3 closing of 75.2370.
Market Update: 10th December 2021
Sensex: 58,786.67 ▼ 0.03%
Nifty:17,511.30 ▼ 0.03%