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Falling oil prices and strong growth in blue-chip stocks, such as Reliance Industries, allowed the Nifty benchmark to record its highest weekly gain in 16 months
on higher since the week ended March 19, 2017.
The Senbad rose 2.48%, the highest since the week ended January 21, 2018, while it had gained nearly 2.7% . During the week, the Senbad surpbaded its previous life peak, which it had touched on Jan. 29.
Optimism, however, is limited to selecting stocks as the broader market has continued to underperform. The Nifty Midcap 100 Index ended the week with a gain of only 0.22%, while the Nifty Smallcap 100 Index ended with losses of 0.22%. The rupee ended the week with a gain of 0.5% against the dollar
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Meanwhile, benchmarks have ended their five days following disappointing economic data. Despite a positive start, the Nifty finished 0.04 percent, or four points, down to 11,019 points. The Nifty Midcap 100 and the Smallcap 100 dropped respectively to 1.14% and 2.6%.
"Despite the positive global market and the rupee's rise, the domestic market experienced a downturn as investors reacted to inflation and fall in the IIP." The moderate trend in price and yield of the oil provides some stability to the dynamics of the market.However, the sentiment is not wide because the medium and small caps have not participated in the rally.The concern for the valuation of premiums pushes investors to avoid mid-caps, "says Vinod Nair, director of research at Geojit Financial Services
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" We are optimistic about Nifty and we expect that the ascending course that prevails continues. But the continued downturn in the market in general causes maximum pain to the participants, "said Jayant Manglik, president of Religare Broking.
A sharp drop in crude oil prices helped boost investor sentiment. Brent crude oil fell by $ 5.46, or 6.9 per cent, most in almost two years, currently Brent prices are around $ 74.
Foreign portfolio investors sold Friday shares worth 11 billion rupees, while domestic investors have provided support for the purchase of 8.7 billion rupees.Today this year, the REITs have Withdrawn $ 800 million from India in 2018. The liquidation is lower than that of regional peers such as Taiwan, Thailand and South Korea.In addition, Indian markets have been supported by the purchase mutual funds This year, the MFs remained net buyers of shares worth Rs 700 billion. Since the beginning of the year, the Senbad is up 7.5%, most of the world's major markets. However, the returns for the mid-cap and small-cap indices were negative.
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