Volatility is expected to remain high due to scheduled derivatives expiry on November 29.

It has been a roller coaster week for India markets. The S&P BSE Sensex had a touch and go moment with 35,000 while for Nifty it was for 10700 levels as well as 200-days moving average (DMA).

The S&P BSE Sensex fell 1.3 percent while the Nifty50 saw a decline of 1.4 percent for the week ended November 22. Indian market remained shut on Friday on account of a public holiday.

The broader market outperformed benchmark indices. The S&P BSE Mid-cap index slipped 0.78 percent while the S&P BSE Small-cap index was down by 0.9 percent in the same period. However, there was plenty of action in individual stocks.

As many as 26 stocks in the S&P BSE Small-cap index rose 10-30 percent in just four trading session this week which include names like DB Realty, CG Power, Supreme Infra, KSK Energy, Electrosteel Steels, Indoco Remedies, Premier Explosives, Kesoram Industries etc. among others

In the S&P BSE 500 index, as many as five stocks rose 10-20 percent which include names like RattanIndia Infrastructure Ltd, CG Power, Gammon Infra, Kwality, Diamond Power, Veto Switchgear, and 8K Miles Software Services Ltd.

Markets ended the three weeks of winning streak even though the beginning was upbeat, citing favorable indications from recently concluded RBI meet.

However, bias turned negative afterward and gradually pushed the index lower. Weak global cues, fall in crude oil prices, appreciating rupee weighed on IT stocks, as well as downward revision of global growth forecast weighed on sentiment.

In absence of any major event, assembly elections will remain in limelight. Among the remaining states, voting in Madhya Pradesh and Mizoram is scheduled on November 28.

source: moneycontrol.com