Indian markets had a dream run during the week thanks to a confluence of positive factors including a rising rupee, falling crude oil prices, a U.S. waiver from Iran sanctions and decent corporate results. Benchmark indices gained about 5 percent during the week with the Nifty marching past the 10,550-mark.
Markets ended lower in a highly volatile trading week with the Nifty falling 2.65 percent to 10,030. Crude slumped 4.2 percent to a two-month low of $75 but negative global cues, disappointing quarterly results and liquidity concerns over the NBFC crisis had a negative impact on stocks.
A sell-off in the markets resumed after the previous week's breather, with the volatile Nifty trading in a wide range between 10,250 and 10,700 levels. Growth concerns in China and global trade tensions weighed on global sentiments. Plans for bilateral trade talks between the United States and China have stalled, keeping markets shaky and putting pressure on China's already softening economy and weakening currency.
Indian indices, already reeling from the IL&FS crisis, falling rupee and high oil prices, got another jolt from a selloff in U.S. stocks following President Donald Trump's scathing remarks against the Federal Reserve. Adding to investors' concerns was the IMF’s prediction that the global economy will grow at a slower pace of 3.7 percent compared to its earlier expectation of 3.9 percent. This deepened the cuts during the first half of the week. The Nifty, however, rebounded from the extremely oversold territory to end the week 1.5 percent higher.
Markets posted their worst week in 31 months, with the Nifty losing all the gains it had made in 2018 to end at 10,316. A confluence of factors including the RBI’s surprise decision to keep the repo rate unchanged, fears that the government will move away from deregulation of fuel, and the IL&FS fiasco led to an extended decline spanning five weeks.
Markets ended in the red for the fourth consecutive week led by a sharp correction in financial services. Sentiment remained cautious after the government raised import tariffs on select goods and the RBI announced measures to ease liquidity concerns.
India’s benchmark indices ended near two-month lows after an extremely volatile session on Friday triggered by panic selling in NBFCs, particularly housing finance firms, on fears of debt default.
Markets had a roller-coaster ride to extend their losses for a second week. Stocks fell sharply in the initial part of the week after the rupee hit a fresh low of 72.9 against the dollar.
Markets snapped their longest stretch of weekly gains since January after the rupee declined to a fresh low, raising concerns about the outlook on economic and earnings growth.
Markets extended their winning streak to a fifth consecutive week as benchmark indexes again hit life highs. The Nifty ended up 0.75 percent at 11,557 while the mid-cap index outperformed and was up 1.5 percent.