Stock Market: In the past week, due to positive developments in the ongoing trade talks between the US and China and the decline in retail inflation in the country, the Indian stock market closed sharply. On a weekly basis, the Sensex climbed 376.77 points or 1.05 percent to close at 36,386.61, while the Nifty closed at 11210, or 1.04 percent, at 10,906.95. At the same time, the BSE Midcap and Smallcap Index are declining.
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The mid-cap index closed 153.64 points or 1.01 percent down at 15,023.39 points, while the Smallcap index closed 95.77 points or 0.66 percent down at 14,504.60.
On Monday, the stock market declined and the Sensex slipped 156.28 points, or 0.43 percent, to close at 35,853.56, while the Nifty closed 57.35 points or 0.53 percent down at 10,737.60.
On Tuesday, the stock market registered strong gains and the Sensex closed at 36,318.33, up 464.77 points or 1.30 percent. At the same time, the Nifty closed at 148.20 points, or 1.39 percent, at 10,886.80.
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The market remained volatile on Wednesday and the Sensex closed at 36,321.29 with a rise of 2.96 points or 0.01 percent. On the other hand, the Nifty closed 3.50 points or 0.03 percent higher at 10,890.
On Thursday, the Sensex climbed 52.79 points, or 0.15 percent, to 36,374.08, and the Nifty closed 14.90 points or 0.14 percent higher at 10,905.20.
The Sensex closed 12.53 points or 0.03 percent higher at 36,386.61 points on Friday, while the Nifty closed 1.75 points or 0.02 percent higher at 10,906.95.
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In the bullish stock market, Reliance (7.75 percent), Infosys (6.92 percent), TCS (3.17 percent), HCL Technologies (2.55 percent) and Tata Motors (1.55 percent).
Sun Pharma (11.83 percent), Bharti Airtel (6.92 percent), Larsen & Toubro (3.79 percent), State Bank of India (2.43 percent) and NTPC (2.17 percent) were the major losers in the Sensex’s fall.
On the economic front, the rate of retail inflation declined to 2.19 percent in December from the rate of decline in fuel prices, compared to 2.33 percent in November. However, the prices of food items have been steadily rising compared to the previous month, but it remains in negative zones.
Data from the Central Statistics Office show that on the year-on-year basis, the Consumer Price Index (CPI) dropped sharply last month, as the CPI rate was 5.21 percent in the year 2017. The Consumer Food Prices Index (CFPI) was (-) 2.51 percent in December, compared to (-) 2.61 percent in the previous month.
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In the review of the wholesale price index of December, the Ministry said, “The annual inflation based on monthly WPI was 3.80 percent (provisional) compared to December of 2018 (compared to December of 2017), whereas in November it was 4.64 percent. In December of 2017, the rate was 3.58 percent. ”
During April-December of the current financial year 2018-19, India’s steel exports have shrunk by 38.5 percent compared to the same period last year, although production and domestic consumption have increased in comparison to last year. In the first nine months of the financial year, the production of steel has increased to 973.58 lakh tonnes, compared to the same period last year, with an increase of 4.5%. According to the report of the Ministry of Steel, during the April-December period, the consumption of steel in the country is 8.48 million tonnes, compared to last year’s 718.62 lakh tonnes. Exports of finished steel from the country was 46.75 lakh tonnes in the first nine months of the current financial year, which was 38.5 percent lower than the previous year’s production of 59.08 lakh tonnes in 2017-18. Steel imports also declined by 3.1 percent this year compared to the same period last year.