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EMPOWER YOUR WEALTH WITH MARKET INSIGHT & ANALYSIS DIRECLTLY FROM AMBAREESH BALIGA
17 February 2019
Sunday
Markets weakens on broad-based selling
Markets witnessed broad-based selling pressure as fresh concerns about rising crude oil prices resurfaced, with Brent crude oil futures firming up over USD 66 a barrel during the week. Investors remained worried over global uncertainties amid lingering fears over US-China trade talks and global growth. The dastardly terrorist attack at Pulwama and the subsequent strong stand taken by the Government put a question mark on the geo-political situation in the region leading to further nervousness. Sustained FII outflows along with fresh weakness in the rupee against the dollar also impacted sentiments. For the week, the Nifty fell 2 pct to end at 10,724. The midcap and the small cap indices fell about 2.8 pct each during the week. On the institutional activity front, FIIs were net sellers to the tune of Rs 24.83 bn while DIIs were net buyers to the tune of Rs 24.37 bn during the week.
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