Monday, November 29, 1999

Markets remain choppy during the week

News posted by www.newsinfoline.com

The benchmark index Sensex plummeted nearly 5 per cent at 16,769 points during the week, shedding 790 points compared to the previous week's close. The index is currently trading at a price to earnings ratio of 19.8. The foreign institutional investors (FIIs) were the net sellers during the week and pulled out around Rs 192 crore. According to Sunil Sachdeva, senior vice president, Jaypee Capital Services: "Nothing has changed fundamentally this week but fear from the European markets and the Euro zone is hovering in the markets." The mid-cap and the small-cap index, too, followed the move and retreated around 5 per cent during the week.Inflation eased for the second consecutive week to 16.04 per cent for the week ended April 24, a drop of nearly 0.57 percentage points from the week earlier. On the commodities front, the crude oil prices are trading at $85.4 per barrel (as on May 04, 2010) and plunged around 1 per cent during the week. On the contrary, gold prices scaled nearly 5 per cent during the same period. The yellow metal is currently trading at Rs 17,825 per 10 gram.All the sectoral indices ended in red last week during the week. The major losers were metal and realty sectors as they declined by 9.6 per cent and 9.5 per cent respectively. The sectors which decline the least were oil and gas and healthcare by dropping nearly 1 per cent and 0.6 per cent respectively during a week's time. Currently, the markets are exhibiting huge volatilities. Therefore, investors need to maintain a cautious approach while entering the markets at this point of time. "The markets are extremely volatility right now. Therefore, investors should select a few fundamentally good stocks and invests when the market settles," says Sachdeva.

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