Gainful Week
Comparison of indices – closing 13th September vs 6th September
After sliding down previous week, Nifty50 closed at 11076 gaining 1.2% over last Friday’s closing. Midcap (up 2.3%) and Smallcap (up 3.2%) gained handsomely. Amongst sectoral indices, Realty (+5.4%), Auto (+3.6%) and Bank (+3.1%) were major gainers. IT (down 1.9%), Pharma (down 0.4%) and FMCG (down 0.2%) were the losing sectors.
Market Updates:
- CPI increases marginally to 3.21% in August – Retail inflation indicated by CPI increased marginally to 3.21% in August from 3.15% in July, mainly due to costlier food items. Retail inflation is within the Reserve Bank India’s target range of 4%, with deviation of 2% on either side.
- Bank credit slows down – Bank credit and deposits slowed to 10.24 percent and 9.73 percent to Rs 96.80 trillion and Rs 127.80 trillion, respectively in the fortnight to August 30. Personal loans rose 17% in July 2019 compared to an increase of 16.7% in July 2018.
- Govt to infuse Rs 55,000 crore into PSBs in a week – Government will infuse Rs 55,000 crore capital in Public Sector Banks under consolidation process in a week’s time, with an aim to strengthen PSBs and enhance their lending capacity.
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