The Indian equity markets extended their winning streak in the festive week of Diwali. The Nifty managed to edge higher by 0.3% in the week, while Bank Nifty was up modestly by 0.4%.
Falling crude oil prices and a strengthening rupee against the US dollar were the crucial factors that lifted the sentiments on D-Street. Gains were seen despite weak global cues after the US Federal Reserve left key interest rates on hold but hinted a rate hike next month.
With Q2FY19 earnings season almost approaching the end, all attention would once again return to the other factors, namely macroeconomic data and global cues.
Meanwhile, the coming week once again promises to be a stock-specific one as multiple companies are gearing to come out with their quarterly results. Wockhardt, Eicher Motors, Godrej Ind, NMDC, Jet Airways, Glenmark, Ashok Leyland, Apollo Tyres, Ujjivan, and Motherson Sumi are among the few big names scheduled to announce their earnings in the week to come.
For the week, the realty index rose by 2.1%, auto gained 1%, IT was up 1%, pharma rose by a percent, energy edged higher by half a percent, infra index was modestly higher by 0.3%. The Midcap 100 index also gained a percent in the week to November 09.
On the other hand, the FMCG index was down 0.3% while the metal index was down 0.2%.
The NSE Nifty50 rose 5%, while Bank Nifty surged 5.2% in the week.