WEEKLY UPDATE

WEEKLY MARKET
UPDATE

MARKETS REMAINED
HOT-BLOODED THROUGHOUT THE WEEK:

Both Nifty and Sensex were impulsive and highly volatile
throughout the past week with a mixed rally between bulls and bears with the
impact of choppy international environment, Trump’s inauguration and high
expectations from the upcoming budget.

QUARTER RESULTS
RELEASED BY BANKS WERE THE MAJOR DRIVING FORCES:

AXIS BANK, YESBANK, FEDERAL BANK, CANARA BANK, HCL, L&T
were the key drivers causing the market to make high triggering waves where
yesbank ended as major gainer and axis bank ending as major loser around 5% due
to failure of growth in revenue, lower fresh slippages, non-performing assets
increase.

BANKING, IT,
PHARMA STOCKS SAW COLOSSAL SELLING PRESSURE:

The Nifty ended below 8350 as banks and IT stocks dragged
the indices down where IT and Pharma stocks underperformed ending as losers as
the investors look for Trump’s policy stance on visa issuances and over pricing
of drugs.

GLOBAL MARKETS TOO
FICKLED DUE TO TRUMP’S INAUGURATION & BRITAIN’S EXIT ROADMAP:

European Markets and Asian Markets remained capricious
sending the pound lower as British PM Theresa May in a speech delineated for an
‘UNBLEMISHED’ exit of UK from EU while European Central Bank did not make
formidable deviations in its interest rates and bond buying programme.

WORLD ECONOMIC
FORUM HIGHLIGHTS:

IMF chairman Christine Lagarde cherished that India is very
friendly to invest despite contingencies while Nitin Gadkari said that India
need to raise its spirits to be ahead of China in its decision making process
in terms of policies and administration.

RUPEE LURCHES BY 5
PAISE CLOSING 1-WEEK LOW:

Rupee leaps by 5 paise against dollar on Friday due to
Trump’s inauguration and economic impact on fiscal policies with bulky sell off
OF DOMESTIC EQUITIES and weakening corporate earnings.

Expectations for
week ahead:

·
Supreme Court to hear plea on JAN 23 for
postponement of budget due to 5-state assembly elections.

·
Trump’s new policies will be looked upon and the
impact on future movements in market.

·
IT & PHARMA sector will be gazed upon due to
pricing of drugs and visa issuances.

·
Corporate earnings continuing impact on markets
which dragged the Bank Nifty last week.