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Quote on Market Round-Up by Shrikant Chouhan, Head Equity Research, Kotak Securities

The Nifty-50 Index and Sensex ended down around 4.25% down in the past week. Both the mid-cap index and small-cap index lost around 2% outperforming large-caps. Global equity markets witnessed various degrees of sell-off (Brazil down 10%, Japan down 5%, S&P-500 down 4%) in the past week, in the aftermath of the US Fed policy meeting, where the US Fed cautioned on the pace of future rate cuts.

Sector-wise, all sectoral index ended red except for Realty (+.2%) and Pharma (+2.3%). Major sectoral losers for the week include, IT (-4.4%), Capital Goods (-5%), Auto (-4%), Metal (-5%), Power (-5.2%) and Oil & Gas (-3.7%). Within the Nifty, Dr Reddy (+8.5%), Cipla (+2.3%) and Apollo Hospital (+0.9%) gained the most, while Shriram Finance (-8.4%), JSW steel (-7.7%) and Tata Motors (-7.3%) lost the most. On the economy front, goods trade deficit in November widened to US$37.8 bn from US$27.1 bn in October, with exports declining 4.9% yoy, while imports increasing 27% yoy. FPI selling continued, with US$441 mn of outflows in the past five days, while DIIs bought US$1.0 bn in the same period.