Dear Readers Quick recap of the market for the current week is enclosed.( 27th September to 03rd October 2021).
Market Update: 01st October 2021
Sensex: 58,765.58 ▼ 0.61%
Nifty:17,532.05 ▼ 0.49%
Hope You are doing well.
Indian Market witnessed a selling pressure in this week because of some weak global cues such as tapering, rising bond yields, super cycle of commodities & collapse of Chinese market. Last week, BSE Sensex lost 1,282.89 points (2.13 percent) to close at 58,765.58, while the Nifty50 fell 321.2 points (1.79 percent) to close at 17,532 levels.
In the coming week, we expect the consolidation to end and new uptrend will start. With the start of results in IT companies, we are expecting healthy numbers in IT companies. Infra Sector is receiving new orders, tourism sector has also picked up very well. All these factor will again lead next rally in nifty.
Sectorally, buying was seen in Utilities (+6.3%), Oil & Gas (+4.1%) and Metals (2.7%), while selling pressure was visible in Comm tech (-5.3%), IT (-5.2%) and Banking sector (-1.7%).
During the Week Foreign Net Outflow was $899m, whereas domestic net inflow was $663m.
Last week, the Indian rupee declined 43 paise to finish at 74.12 on October 1 against its September 24 closing of 73.69.