The Implied Volatility (IV) of calls was down and closed at 13.22 percent while that for put options closed at 13.71 percent. The Nifty VIX for the week closed at 14.8 percent and is expected to remain sideways, a SMC report said.

The 30-share BSE Sensex was up 30.17 points at 33,626.97 and the 50-share NSE Nifty rose 6.40 points to 10,331.60 while both benchmark indices rallied 2 percent each for the week. The Nifty made a Doji-type pattern on the daily chart, while a bullish candle for the weekly charts as of April 6.

On a weekly basis, the BSE Sensex registered a gain of 658.29 points, or 1.99 percent while the NSE Nifty rose 217.90 points, or 2.15 percent.

The Implied Volatility (IV) of calls was down and closed at 13.22 percent while that for put options closed at 13.71 percent. The Nifty VIX for the week closed at 14.8 percent and is expected to remain sideways, an SMC report said.

Across the US markets, the Dow Jones industrial average fell 572.46 points to 23,932.76, while the S&P 500 declined 2.2 percent to 2,604.47 dragged by industrials and the Nasdaq composite dropped 2.3 percent to close at 6,915.11, after the US Federal Reserve indicated that it would continue hiking rates this year.

For the week, Dow Jones was down 0.7 percent while the S&P500 slipped 1.4 percent this week, as volatility continued in trade. The Nasdaq composite was down 2.1 percent. The volatility was further aided by the US and China after the two countries escalated the trade war with new tariffs. US President Donald Trump threatened more levies on Thursday, and considered USD 100 billion in additional tariffs against China, after it announced fresh tariffs on 106 US products on Wednesday.

This was further aided by weaker-than-expected jobs data. The Labor Department reported that the US economy added 103,000 jobs in March while economists polled by Reuters expected a gain of 193,000.

US trade deficit widened to USD 57.6 billion in February from a revised USD 56.7 billion in January. Economists had expected the trade deficit to widen to USD 56.8 billion from USD 56.6 billion originally reported for the previous month, a statement by SMC Global said.

The US-China trade war also rattled European markets as they closed lower. Despite stocks finishing lower on Friday, markets registered a second straight weekly gain, after Trump threatened China with additional tariffs. For the week, the pan-Europe gauge rose 1.1 percent, marking its second weekly rise in a row.

The DAX fell 0.5 percent to 12,241.27 while the CAC 40 index slipped 0.4% to 5,258.24, after its best one-day rise in almost a year. For the week, the index rose 1.8 percent. The pan-European STOXX 600 declined 0.35 percent, erasing part of Thursday’s 2.4 percent gain though posting a weekly rise of 1 percent. It remained on track for a weekly advance of 0.9 percent.

Japan’s Nikkei 225 slipped 0.36 percent, or 77.9 points, to close at 21,567.52 amid choppy trade. Despite the move lower amid elevated trade tensions, the benchmark finished the week higher by around 0.5 percent.

The Hang Seng Index added 1.1 percent to close at 29,844.94, but it fell 0.8 percent for the week. China’s manufacturing activity expanded at its weakest pace in four months on April 2 while activity in Japan’s service sector expanded at the slowest pace in 17 months in March as new business growth cooled.

source: moneycontrol.com