According to Vinod Nair, head of research, Geojit Financial Services, “We expect domestic markets to be guided by global trends in the absence of any major domestic events this week.” Nirali Shah, head of equity research company Samco Securities, said markets are expected to remain sluggish and limited.
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He said that investors should trade in the major indices carefully and keep in mind any developments in the global markets. Last week, the BSE major index Sensex lost 654.54 points or 1.26 percent. Shah said, “Markets maintained the expectation at the beginning of the week, but the market’s sales pressure after the Nifty reached its new all-time high Has been made.”Profit booking dominated the market
After the general budget, there was a boom in the market, but the profit recovery dominated last week. Analysts also said that the rally in Brent crude, the rupee move and the trend of foreign institutional investors will affect the market sentiment.
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Which shares fell on Friday
The strong rally in Indian Overseas Bank, Central Bank of India, OnMobile Global, Bank of Maharashtra, HLE Glascoat and Adani Total Gas saw the BSE Smallcap index rising by over 1 per cent. These stocks saw gains of up to 30-60 percent this week. At the same time, smallcap stocks like Arman Financial Services, Suzlon Energy, Polyplex Corporation, Solara Active Pharma and FIEM Industries were down by 12-15% during the last week.