Last updated: 01 Apr, 2021 | 01:49 pm
The markets saw another interesting week, with the Nifty see-sawing between losses and gains in the holiday-shortened March 30th (Tuesday) to April 1 (Thursday) period. The market was closed on Monday on account of Holi. The Nifty advanced on Tuesday, closing 2.3% higher, as expectations of better macro numbers, global market rally, reduced FII selling kept sentiments upbeat. However, the Nifty declined on the last day of FY21, as rise in US 10-year treasury yields, increasing Covid-19 cases, and rise in US treasury yields dampened sentiment. Nifty closed around 1% down on Wednesday. The Indian equity market rebounded on Friday to start the new financial year on a robust note, amid optimism in the global markets. The announcement by US President Joe Biden to invest $2.3 trillion in infrastructure was a driving factor. During the week, newsflow about macro data, Covid-19 cases, new listings, FY closing, Small Saving Scheme investments dominated sentiments. The market is closed on Friday, on account of Good Friday.
Top gainers and losers
Here is a quick recap of the market moving developments:
Gold prices rebound
Gold prices recovered marginally in the week after US President Joe Biden unveiled his 'once-in-a-generation' investment infra plan of more than $2 trillion in transportation, telecoms and energy infrastructure. The investors are concerned that the stimulus measures will stoke inflationary pressure, leading them to buy the yellow metal as a hedge against it.
Check out our other analysis on important market developments!
US markets last week: Volatile crude, bond yields, Fed commentary on investors' radar: Most of the global markets ended lower in the week, as US Treasury Yields soared to their highest levels in one-year, raising concerns of FII outflows from economies. While central banks around the world maintained their dovish policy stance to support an economic recovery, concerns about a resurgence in coronavirus infections in certain countries soured sentiments. View our analysis
US Treasury Yield soars to one-year high: The concern is that the US Federal Reserve will have to taper its bond purchases and consider interest rate hikes due to rise in inflation, similar to ‘taper tantrum’ witnessed in 2013. ‘Taper tantrum’ is a phrase used to describe the surge in the U.S Treasury yields in 2013. The surge had come after the Fed’s announcement of future tapering of its policy of quantitative easing, inroder to reduce liquidity in the economy. Read our analysis here
How global and Indian markets fared in 2021: Key equity market indices in the USA ended higher in February. After registering notable gains in the first 20 days, indices in the US markets fell in the last 10 days of the months. Here’s our analysis.
Nifty Q3 earnings review: Most of the companies in the Nifty 50 index have reported better-than-estimated results in Oct-Dec 20 period, signalling that Nifty companies have left pandemic blues behind. Check our detailed review.