Last updated: 16 Apr, 2021 | 12:59 pm
The markets saw another interesting week, with factors such as additional curbs due to rising Covid-19 cases, Q4 earnings releases, and macro data steering the course of the index. The Nifty plunged by more than 3.5% on Monday, as surging Covid-19 cases led to fears of fresh lockdowns.
The index recovered on Tuesday, as investors cheered the government's proposal to fast-track approvals for foreign-produced covid-vaccines. The stock market was closed on Wednesday on account of Ambedkar Jayanti. The mood remained cautious on Thursday, as many states increased restrictions due to the havoc created by the virus. We also witnessed stock specific action in TCS, Infosys and Wipro, after their Q4 earnings announcements. For the week, the Nifty lost 1.5%, posting its second straight weekly loss.
Top gainers and losers
Here is a quick recap of the market moving developments:
Gold prices rebound
Gold prices recovered in the week, supported by a stable US dollar and a fall in 10-year US treasury yields. The decline in equity markets during the week also supported the prices for the yellow metal, as investors moved towards lower risk assets amid rising Covid cases.
Check out our other analysis on important market developments!
Strong macro data, Fed\u2019s supportive policy propels US market to record high: The week\u2019s trading started off on a strong note, after March payrolls data released over the previous week showed robust jobs addition. After moving to a new high on Monday, the market took a breather on Tuesday. The indices resumed their rally over Wednesday and Thursday, after the Fed reiterated its accommodative stance to revive the economy. View analysis
RBI policy update: Repo rate, inflation, growth, liquidity and more: The RBI's Monetary Policy Committee (MPC) has kept the repo rate unchanged at 4% in its bi-monthly policy meeting held today. The reverse repo rate too stands unchanged at 3.35%. Repo rate is the rate at which the RBI lends to commercial banks, and reverse repo is the rate at which it borrows from them. View analysis