The Equity Market are suppressed by the banking sector

  • Author – Pooja Yadav


Despite better-than-expected macroeconomic growth indicators, the key Indian equity indices closed the week on a flat note as negative global cues and the stress being faced by the banking sector, eroded investors’ risk-taking appetite.
Next week, markets would closely track the movement in the banking index, especially the PSU bank stocks, for any recovery — and capital goods stocks,” Devendra Nevgi, Founder and Principal Partner, Delta Global Partners.
“The global market sentiment and FPI (Foreign Portfolio Investors) flows would be closely watched, as, in the month of February, FPIs were net sellers to the tune of Rs 18,619 crore.”
According to Vinod Nair Head Of Research at Geojit Financial Services: “Market was subdued this week largely due to concerns on NPA and fraud in PNB, trade deficit, a rise in bond yield and depreciation in INR.”
The Nifty50 had edged higher by 108.35 points, or 1.04 percent, to close at 10,491.05 points, while the Sensex closed at 34,142.15 points — up 322.65 points.

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