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Last Updated : Apr 13, 2019 09:17 AM IST | Source: Moneycontrol.com

Week in 5 charts: Lok Sabha polls, earnings keep investors cautious; rupee gains

On a weekly basis, the rupee ended marginally higher at 69.15 on April 12 against the April 5 closing of 69.22

Rakesh Patil
 
 
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Investors remained cautious in the week gone by as Indian indices ended with marginal loss amid the first phase of the Lok Sabha elections on April 11, the start of earnings from India Inc and no major cues from global markets.

The Sensex ended 0.24 percent lower at 38767.11, while Nifty ended at 11,643.5, down 0.19 percent.

The IT major TCS and Infosys announced their Q4 results after market close on April 12.

Infosys reported better than expected profit at Rs 4,074 crore in Q4, registering a growth of 13 percent over the previous quarter.

Dollar revenue for the quarter stood at $3,060, growing 2.44 percent sequentially while the operating profit margin contracted to 21.4 percent against 22.57 percent in the previous quarter.

Tata Consultancy Services (TCS) also reported healthy net profit growth for March quarter on April 12 which was higher than analyst estimates. The consolidated net profit was at Rs 8,126 crore, while Revenue in rupee terms stood at Rs 38,010 crore.

India's retail inflation stood at 2.86 percent in March, higher than previous month's 2.57 percent. The factory output was seen at 0.1 percent in February, lower than previous month's 1.7 percent, and 4.3 percent in February last year.

The first phase of polling began on April 11 across 20 states and Union Territories. In the first phase, 91 out of 543 Lok Sabha constituencies went for polls. The counting of all votes will take place on May 23.

"Albeit Nifty50 put up a smart recovery in the post-lunch session it registered a Hanging Man kind of formation on weekly charts which was followed by Doji of preceding week. These kind of indecisive formations for two successive weeks are certainly hinting at exhaustion of momentum," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.

On a weekly basis, the rupee ended marginally higher at 69.15 on April 12 against the April 5 closing of 69.22.

The S&P BSE Largecap Index was down 0.10 percent, S&P BSE Midcap index fell 0.53 percent and Smallcap Index was down 0.16 percent.

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The Nifty Auto index outperformed sectoral indices with gains of 2.5 percent during the week.

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On the BSE, ITC gained the most in terms of market value followed by HUL and Maruti Suzuki, on the other side, TCS lost the most in terms of market value.

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Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
First Published on Apr 13, 2019 09:17 am
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