Second worst week for markets, 14 stocks fell 20-50 % in five days

More than 400 stocks in the top 500 companies of india Inc. recorded negative returns for the week ended August 2. Out of 419 stocks, 59 stocks in the S&P BSE 500 index fell in double digits.
Indian markets witnessed the second worst week of 2019 as benchmark indices fell by about 2 percent for the week ended August 2. The Nifty 50 fell 2.54 percent, its worst weekly performance since May 10 when the index was down by about 3.7 percent.

There has been persistent selling by foreign investors that has pulled out more than Rs 6,000 crore from the cash segment of Indian equity markets. Also, there are muted corporate results, signs of weakness in economic growth as reflected by core data and, on the global front, the commentary from the US Fed and fresh concerns over trade war between the US and China.

The S&P BSE Sensex managed to reclaim its crucial level of 37,000. However, for the week, the index fell by about 2 percent. The broader markets, especially the small caps, witnessed fierce selling pressure.
The S&P BSE Smallcap index plunged by 4.3 percent for the week ended August 2. The S&P BSE Midcap index was down 2.2 percent to 13,546, a level was last seen in February 2017.
More than 400 stocks in the top 500 companies of India Inc. recorded negative returns for the week ended August 2. Out of 419 stocks, 59 stocks in the S&P BSE 500 index fell in double digits.

Out of 59 stocks which dropped more than 10 percent, 14 stocks saw a decline of 20-50 percent which includes names like Sadbhav Engineering, Indiabulls Housing Finance, Dish TV, Indiabulls Real Estate, Vodafone Idea, Care Ratings, and Coffee Day Enterprises, etc. among others.


In the coming week, apart from corporate earnings, investors would watch out for the outcome of the monetary policy committee (MPC). Most experts see a 25 bps rate cut from the Reserve Bank of India (RBI) to lift growth in Asia’s third-largest economy.

Disclaimer: The views and investment tips expressed by investinginsharemarket.home.blog advises users to check with certified experts before taking any investment decisions.


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