Weekly Watch on Stocks for the week ended Thursday 18-April

Key benchmark indices recorded mild gains in the shortened-trading week ended Thursday, 18-April, 2019. The markets on Thursday slipped from record highs to end lower, dragged by banking shares, as investors remained vigilant on corporate earnings amid polling.

The Sensex rose 0.96percnet or 373.17 points to settle at 39,140.28. The Nifty50 index posted its highest weekly close rising 0.94percnet or 109.35 points to settle at 11,752.80, while Midcap50 index was down by 0.5-percent.

Sectorally, Pharma index ended flat, Bank index rose 0.93%, while IT index gained 1-percnt. Conversely, PSU Bank index seen some profit booking and declined by 3-percnert, and realty index ended 2-percenet lower.

In the economic front, the Retail inflation rate reportedly crossed a five-month high of 2.86percnet in March, which industrial production normalized in the month of February. The Index of Industrial Production level rose a meagerly 0.1pecent in February 2019, as against the recorded growth of 1.7percnet in January 2019.

Going ahead, coming week, stock markets would react to the fourth quarter- FY19 results of major heavyweights such as HDFC Bank and Reliance Industries Limited.