Sensex, Nifty end 2.5% lower in week to Nov 14; Nifty PSU Bank slumps 7%

Weekly market wrap: Indian equities are closed on Friday on the occasion of Prakash Gurpurb Sri Guru Nanak Dev, so as the equity markets have closed for the week. Here is a quick wrap up:

In the week gone by both in India and US, CPI print was release, which came in on the higher side in the domestic front but on expected lines in India. Nonetheless, there is held that inflationary is not being tackled at the required pace, making way for the third rate cut by the Federal Reserve in December. So amid all this and continuing FII outflow to the tune of 27,683 crore and DII inflow of Rs 24,040.1 crore and Q2 earnings nearing an end, Nifty for the week to November 14 ended 2.75 per cent lower to below 23,550 levels, while the Sensex slumped 2.47 per cent.

Top sectoral gainers and losers

Even as PSU Banks posted good results with SBI declaring results in the past week with improved asset quality, the PSU Bank turned to be the worst pack for the week with nearly 7 per cent cut on the index. Top loser from the pack during the month has been Punjab and Sind Bank down over 9 per cent

After PSU Bank, Metal, PSE and Realty led the fall with losses between 4-6 per cent on their Nifty indices.

Top Nifty gaines and losers during the week

From the Nifty pack top gainers were Infosys up over 3.5 per cent, followed by Titan gaining 3 per cent, Tech Mahindra 2%, HCL Tech 1.5 per cent and Eicher Motors 0.5 per cent, while top laggards included Britannia down 14%, Asian Paints down 13%, Tata Steel down 9%, NTPC down 8% and Shriram Finance down 8 per cent.

Q2 earnings, China stimulus cues, FII funds trajectory to dictate market next week

Looking ahead, next week, investors will digest key macro data ranging from flash PMI surveys to bank deposit and loan growth to assess the impact and extent of growth moderation in the domestic economy. Focus will also be on the remaining corporate earnings announcements, said 

Gaurav Garg, Research Analyst at Lemonn Markets Desk.

"However, it looks like the muted performance of domestic Q2 earnings has been mostly factored in with the consolidation of the last 1-2 months. Market will look forward for improvement in domestic business and economy data,  in anticipation of a rebound in government spending which reduced during the year due to national & state elections," added Vinod Nair, Head of Research, Geojit Financial Services.