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Exercise a good deal of patience amidst non-supportive global cues

With global cues not supportive at all and trade wars certain to escalate, it makes sense to negotiate choppy waters wisely, exercising a good deal of patience

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Chinese employees work on socks for export at a factory in Huaibei in China's Anhui province. Beijing accused Donald Trump of 'blackmail' and charges are pushing the world's two biggest economies closer to a trade war. Pic/AFP

Chinese employees work on socks for export at a factory in Huaibei in China's Anhui province. Beijing accused Donald Trump of 'blackmail' and charges are pushing the world's two biggest economies closer to a trade war. Pic/AFP

In the week gone by volatility continued to dominate the market place. After five trading days, the BSESENSEX ended with marginal gains of 67.46 points or 0.19 per cent to close at 35,689.60 points. NIFTY was up 4.15 points or 10,821.85 points. The strong rally on Friday managed to see the indices home otherwise we were trailing in the red. The broader indices saw the BSE100, BSE200 and BSE500 lose 0.07 per cent, 0.24 per cent and 0.48 per cent respectively. BSEMIDCAP was down 1.02 per cent and BSESMALLCAP lost 2.55 per cent. In short but for the benchmark indices which eked out small gains, the rest were in the red.

Trade wars
The only sectoral gainer was BSEBANKEX up 1.13 per cent. The top sectoral loser was BSEMETAL down 3.27 per cent followed by BSECAPGOOD 2.73 per cent and BSEIT 2.40 per cent. In individual stocks the top gainer was ICICI Bank up 6.17 per cent followed by HDFC 3.68 per cent and Bharat Petro 3.34 per cent. The top loser was Bank of Baroda down 8.05 per cent, followed by Hindalco 6.79 per cent and Vedanta 4.42 per cent.

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