INSUBCONTINENT EXCLUSIVE:
trend since the results of the general elections last month
Several factors like a sharp rise in oil prices, forecast of a weak monsoon and concern of slowdown have held back investors from
participating.In the next fortnight markets is set to witness two major triggers
The US-China trade talks at the G-20 in Osaka, Japan, next week and the Union Budget to be tabled on July 5.While the Indian investors are
desperately awaiting a budget with plans to kick-start a slowing economy, traders globally expect a resolution between the two biggest
economies entangled in an expensive trade war.Both the events will decide the fate of the markets for the second half of the year.During the
the global oil benchmark rose sharply on Thursday after war like situation developed between Iran and the US after Iran shot down a US
drone.US President Donald Trump on Friday said he was in "no hurry" to retaliate
Trump warned that the "we were cocked and loaded to retaliate last night" but chose otherwise as its was "not proportionate to shooting down
an unmanned drone".Global financial markets fell over fear that a possible conflict would disrupt flows from the Middle East, which accounts
for over 20 per cent of the world's oil output."Markets continued to correct for the third consecutive week
The Nifty ended with losses of 0.84 per cent W-o-W
Market breadth was negative in four out of the five trading sessions of the week," Deepak Jasani of HDFC Securities said.The S-P BSE Sensex
and NSE Nifty 50 Indexes snapped their three-day winning streak on Friday
The Sensex ended 407 points or 1.03 per cent to close at 39,194 and the NSE Nifty 50 Index dropped 108 points or 0.91 per cent to close at
11,724.It would be important to see what steps the government takes in the budget to boost the private investment and improve the economic
activities said Mustafa Nadeem, CEO, Epic Research.
