Start, Pause, Drag

It wasn’t long before the markets were peaking??! Then came the hiccups—the rate-driven market correction, the contagion of geopolitical uncertainty,???crude oil prices, and the decline in major stock prices.

As a result, the stock market uptrend was paused??.

On the other hand, over the last five trading days, the Nifty VIX gradually rose level by level??. It reached a two-month high on Friday.

Here is a stock market overview of the last five trading days.

The benchmarks dressed in red

While the volatility levels climbed, the benchmark indices declined??. Still, the Nifty50 managed to reach a new high of 22,994.70 on Friday (3 May) before starting its downward journey??. Most of it was associated with the outcome of the US Fed meeting.

After a gradual decline last week, the BSE Sensex marginally gained strength ??on Monday (6 May). The rise could be associated with the brisk buying of frontline blue chip stocks??. It ended flat on Tuesday (7 May) with a dragging market sentiment.

The geared up manufacturing sector

The HSBC India Manufacturing PMI (Purchasing Managers’ Index) (seasonally adjusted) indicated the second-best sector health improvement in 3.5 years in April??. The Indian manufacturing business is running on a high-speed gear??with new business projects and production scale-up.?

Vendor performance also improved for the second straight month with increased purchase of raw materials??. However, the sector experienced a higher raw material price that led to a slight increase in their input cost.

That’s all for this week. We will be back every week, henceforth, to give you a weekly dose of market news???.

To stay updated on actionable insights, visit ???? https://bit.ly/3SVUWys

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