Stocks: In spite of recovery on the last day of the week, both the indices, S&P BSE benchmark Sensex and NSE Nifty, tumbled by 802 points and 210 points due to heavy selling pressure after India conducted 'surgical strikes' on terror launch pads across the Line of Control.
The market mirrored the downswing in global equities which was impacted due to US Presidential election debate. Stocks staged a mild recovery on the last day as the Sensex mopped up modest gains amid creation of fresh bets with the beginning of the October series of derivative contracts.
According to HSBC, the global financial services major, inflation is likely to remain below the Reserve Bank's early 2017 target of 5 per cent for the next 12 months, opening up space for monetary easing.
"With US jobs data and RBI monetary policy scheduled for next week, investor focus is expected to be back on macros soon," said Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services.
The index tumbled 465 points on Thursday after India carried out "surgical strikes" on Wednesday night on terror launch pads across the Line of Control (LoC).
The S&P BSE benchmark Sensex resumed lower at 28,630.92 and dropped further to 27,716.78 before ending the week at 27,865.96, disclosing a heavy loss of 802.26 points or 2.80 per cent.
The NSE Nifty also dropped by 210.40 points or 2.38 per cent to end the week at 8,621.15.
Shares of Power, Realty, Capital Goods, FMCG and Banking sectors fell sharply due to heavy profit-booking.
Meanwhile, foreign portfolio investors (FPIs) and
foreign institutional investors (FIIs) bought shares worth Rs 8,178.87 crore during the week, as per Sebi's record including the provisional figure of March 31.
Among the 30-share Sensex pack, 17 stocks ended lower while remaining 13 closed with gains during the week.
Major gainers from the sensex pack were SBI 6.00 pct followed by Adaniports 5.23 pct, Bharti Airtel 2.81 pct, HDFC 2.60 pct, Reliance Ind 2.57 pct, Powergreed 1.81 pct, Larsen 1.69 pct, HDFC Bank 1.22 pct, HUL 1.12 pct and NTPC 1.10 pct.
However, Hero Motoco fell by 4.59 pct followed by ONGC 3.62 pct, Sun Pharma 2.22 pct, Tata Steel 2.14 pct, Lupin 2.12 pct, Coal India 1.76 pct, Gail India 1.26 pct and Infosys 1.07 pct.
Among the major indices S&P BSE Consumer Durable rose by 5.48 pct followed by Capital Goods 2.26 pct, Power 1.75 pct and Bankex 1.50 pct.
However, S&P BSE IT fell by 0.70 pct, Metal 0.46 pct and Healthcare 0.29 pct.
The total turnover during the week on BSE fell to Rs 52,203.39 crores from the last weekend's level of Rs 82,092.67 crores while NSE rose to Rs 1,51,164.12 from Rs 1,27,633.62 crores.
Bullion: Snapping its two-weeks gains, gold slipped,
while silver rose further at the bullion market during the week under review.
Gold lost some sheen after an uninterrupted two-week bullish trend following subdued offtake from stockists and jewellery traders.
Lack of local buying support at existing levels and unwinding of long positions by speculative traders also added downward pressure on yellow-metal, despite ongoing wedding and festive season amid higher global cues.
Gold started the week on a high note, but soon succumbed to fresh bout of selling pressure and traded lustreless for the week.
Silver maintained its impressive surge and retested the psychological Rs 42,000-mark on the back of frantic demand from industrial users.
In worldwide trade, Gold futures gave back some ground in March, but still notched a quarterly gain as the dollar lost steam. A stronger dollar makes bullion more expensive for holders of other currencies, while higher interest rates lead to higher bond yields and dampen demand for non-yielding gold.
But gold is underpinned in the coming months by doubts over Trump's ability to enact tax cuts and investment spending and an uncertain political outlook in Europe.
June gold added USD 3.20, or 0.3 percent, to settle at USD 1,251.20 an ounce, and prices gained about 8.1 percent for the quarter, based on the most-active contract settlement of USD 1,157.10 on Dec. 30. For the month of March, gold lost about 0.2 per cent, according to FactSet data.
May silver added 5 cents, or 0.3 per cent, at USD 18.256 an ounce. Prices ended 13.5 per cent higher than the Dec. 30 settlement of USD 16.08 for the most-active contract.
In New York Comex trade, June gold added USD 3.20 to
settle at USD 1,251.20 an ounce, and prices gained about 8.1 percent for the quarter, based on the most-active contract settlement of USD 1,157.10 on Dec. 30. For the month of March, gold lost about 0.2 per cent, according to FactSet data.
May silver added 5 cents, at USD 18.256 an ounce. Prices ended 13.5 percent higher than the Dec. 30 settlement of USD 16.08 for the most-active contract.
On the domestic front, standard gold (99.5 purity) resumed higher at Rs 28,900 per 10 grams from last Friday's closing level of Rs 28,745, it moved in a range of Rs 28,905 and Rs 28,565 before settling at Rs 28,625, revealing a loss of Rs 120, or 0.42 per cent.
Pure gold (99.9 purity) also commenced higher at Rs 29,050 per 10 grams compared to preceding weekend level of Rs 28,895, it hovered in range of Rs 29,055 and Rs 28,715 before closing at Rs 28,775, showing a loss of Rs 120, or 0.42 per cent.
Silver ready (.999 fineness) opened higher at Rs 42,105 per kilo from last Friday's level of Rs 41,660 and gained further to Rs 42,565 before finishing at Rs 42,365, registering a rise of Rs 705 per kilo, or 1.
Oils and Oilseeds: Edible oils ends mixed, while
non-edibles firmes up, during the truncated week at the wholesale oils and oilseeds market under review.
Groundnut oil continued its rising trend on sustained demand from stockists and retailers amid restricted arrivals from producing regions.
While, refined palmolein weakened further following reduced demand from retailers.
Castorseeds bold and castor oil commercial rallied further on heavy demand from shippers and soap manufacturing units.
Linseeds oil also rose due to good demand from paint and allied industries.
The Oils and oilseeds market was closed on 28th March (Tuesday) on account of "Gudi-padava".
Groundnut oil opened higher at Rs 1,040 and later gained further to close at Rs 1,050 as compared to last Saturday's closing level of Rs 1,025, revealing a rise of Rs 25 per 10kg.
However, refined palmolein resumed lower at Rs 562 and later eased to finish at Rs 557, showing a loss of Rs 10 per 10 kg.
Turning to non-edible section, castorseeds bold commenced higher at Rs 4,850 and rose further to Rs 5,050, before finishing at Rs 5,000 as compared to last weekends' level to Rs 4,775, showing a sharp gain of Rs 225 per 100kg.
Similarly, castor oil commercial commenced higher at Rs 1,000 and advanced to Rs 1,040 before concluding at Rs 1,030 per 10kg as against to previous weekends's level of Rs 985, showing a gain of Rs 45 per 10kg.
Linseed oil prices opened stable at Rs 830, later moved up to finish at Rs 850 from last Saturday's level of Rs 830 per 10 kg, showing a rise of Rs 20.
