It was a week of wild swings with the Nifty seen gyrating over 350 points. Indices danced to the tunes of global cues while crude oil, currency moves, and December F&O expiry added to the volatility.
Furthermore, the easing of tensions between the US government and the US Federal Reserve and hopes of US and China reaching a settlement over their trade dispute lifted market sentiment towards the weekend.
Meanwhile, India's fiscal deficit has surged past the set target despite government assurance. India’s fiscal deficit stood at Rs7.17 lakh cr during April-November or ~115% of its full-year target for FY18-19.
On the other hand, PSU Banks continued to remain in the limelight on reports that the government would infuse ~Rs28,600cr in seven public sector banks in order to help them meet the regulatory norms on maintaining adequate capital buffers.
Sector-wise, the Media index surged 3.6%, Energy gained 1.5%, Infra rose 1.5%, IT rose 1.25%, FMCG was up 1.1%, while the mid-cap and pharma indices edged higher by half a percent each. On the other hand, the realty index dropped 2.2%, Metal fell 1.6%, and the Auto index declined 1.2%.