Proceed with caution, prepare for correction and consolidation in trades

New Delhi, April 14 (IANS) The week in review saw mixed trading sessions with gains on two days and losses on two days. Benchmark indices ended the week nearly flat, hinting at underlying concerns in the market.

Iran’s attack on Israel with drones and missiles, in retaliation to a previous strike on their embassy, led to heightened tensions. The UN Security Council’s emergency session scheduled for tonight will reveal further developments in this ongoing conflict.

BSESENSEX closed at 74,244.90 points with a loss of 3.32 points, while NIFTY ended at 22,519.40 points with a decrease of 5.70 points. New highs were reached earlier in the week, indicating a lack of immediate upside potential in the market.

The Indian Rupee depreciated against the US Dollar, and Dow Jones experienced a challenging week. Market expectations for rate cuts have been dampened due to strong economic performance and persistent inflation concerns, ruling out rate cuts in the short term.

In a recent listing, Bharti Hexacom Limited shares surged by 42.76% on their first day, following an OFS by the Government of India. Vodafone Idea Limited is also gearing up for a follow-on offer in the capital market, presenting arbitrage opportunities for investors.

The Mauritius double tax treaty underwent modifications, leading to significant selling by Foreign Portfolio Investors. Global geopolitical tensions, escalating crude prices, and uncertain conditions suggest a period of market consolidation and stability is needed.

TCS reported improved results for the fourth quarter, indicating positive developments for the IT sector. Despite market volatility and pressure, trading cautiously and focusing on large-cap stocks can offer buying opportunities amidst uncertain times.


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