Equity benchmarks traded with high volatility and despite Friday’s sharp decline, the index closed higher for a second consecutive week.
Equity benchmarks witnessed profit booking during the previous week ahead of state election verdict, as it closed lower by almost 1.5 percent during the previous week on the back of weak global cues. Broader markets also witnessed selling pressure as the Nifty Midcap and small-cap indices closed lower by 2.6 percent and 2.7 percent respectively.
As the Nifty Midcap index has been consolidating for the last 14 sessions, it is being believed that the ongoing second phase of consolidation would make the market healthy and form base for the next leg of up move towards 11100 points levels in the coming weeks.
Equity benchmarks in Indian share market snapped three weeks winning streak and closed lower by more than 1% during the previous week amid weak global cues.
If you get any volatile alert, do not panic. Do not indulge in distress selling during this period. Volatility is not just negative for your investments as you think.
Indian benchmark indices ended the week higher on the back of sharp rupee appreciation and fall in global crude prices in the last session of trading.
It is being expected that ongoing correction to mature in the coming week around the major support area of 10100-10200 for the Nifty in the equity market.
Benchmarks closed lower after a volatile truncated week as global equity sell-off led by prospects of escalating trade war and earnings downgrades weighed on sentiments.