sales from Jaguar Land Rover — its UK subsidiary — especially in China and the US that would largely offset low volume growth in the Indian market.
On the losing side, Dr Reddy’s, Hindustan Unilever, ITC, ONGC and NTPC declined in the range of 1.7-3.5% during the week. Market breadth was strong, with 21 out of 30 Sensex companies ending the week on a positive note.
In global markets, major Asian indices ended the week on a flat-to-negative note, with Nikkei 225 (-5%), Shanghai Composite (-2.1%) and FTSE Straits Times (-2.25%) emerging as the major losers. Major European and US indices were trading down 1-2% for the week at the time of going to print.
Experts said global cues will impact the markets in the near term, adding that developments surrounding the on-going US government shutdown could swing markets. The rupee’s movement is another key factor and will impact the direction of Indian equities in the next couple of weeks. The Nifty is broadly seen trading in the 5,950-5,700 range, they added.