Saturday, 25 November 2017

Nifty extends upswing for second consecutive week

After a V-Shaped recovery seen in the previous week, the Indian equity markets managed to carry forward the momentum amid expectation of another ratings upgrade. It could be two ratings upgrades in two weeks for India. According media reports ratings agency Standard & Poor’s is expected to revise India’s sovereign ratings. S&P had last changed India’s rating in January 2007 to BBB- and it has remained unchanged at BBB- till date.

Logistics companies outperformed throughout the week after the finance ministry decided to give infrastructure status to the sector. 

Major FMCG companies were in the focus throughout the week as according to reports they slashed prices of products after the reduction in GST tax slab. Marico, Hindustan Unilever and Dabur were among the companies reducing prices.

IndusInd Bank and YES Bank to enter the BSE Sensex index replacing Cipla and Lupin. The changes will take effect from December 18, 2017.

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