: Despite the losses last week, trend to remain positive #IndiaNEWS #National,Opinion/Commentary By Arun KejriwalThe week gone by was volatile and contrary to expectations ended with losses. It did

Despite the losses last week, trend to remain positive #IndiaNEWS #National ,Opinion/Commentary
By Arun KejriwalThe week gone by was volatile and contrary to expectations ended with losses. It did show positive signs and despite losing on the first four days of the week, registered gains on Friday, leaving a lot of hope and expectations for the coming week.
BSESENSEX lost 721. 06 points or 1. 32 per cent to close at 53,760. 78 points while NIFTY lost 171. 40 points or 1. 06 per cent to close at 16,049. 20 points. The broader indices saw BSE100, BSE200 and BSE500 lose 0. 66 per cent, 0. 37 per cent and 0. 26 per cent respectively. BSEMIDCAP gained 0. 88 per cent while BSESMALLCAP was up 0. 54 per cent. This makes one believe that the breadth of the market was good.
The Indian Rupee continued to be under pressure and lost 63 paisa or 0. 79 per cent to close at Rs 79. 88 to the US Dollar. This is the lowest closing of the Rupee against the dollar on a weekly basis. Dow Jones lost on the first four days of the week and gained on Friday. At the end of the week, the closing was flattish with Dow Jones losing 49. 89 points or 0. 16 per cent to close at 31,288. 26 points. The gains on Friday were 658 points.
In what could be termed as an important news, RBI has permitted settlement of international trade in Indian Rupees. This will go a long way in mitigating operational risks of importers and exporters. It will also help in a big way of making the rupee convertible in the longer run.
Results from technology and IT companies highlighted the rising costs associated with substantially higher attrition and therefore rising employee costs. After TCS, it was the turn of HCL Tech which faced the same issue. Post results, the share of HCL was under pressure and lost Rs 101 or 10. 26 per cent to close at Rs 883. The BSETECK and BSEIT were the biggest sectoral losers of the week losing 5. 87 per cent and 5. 82 per cent respectively.
EV or electric vehicles seem to have a strange set of problems. It all began with the infrastructure required for the charging of EVs. Then it was the issue of some of the electric scooters catching fire. Now it is the financing of vehicles by banks and NBFCs. The cost of an EV vehicle is roughly 2/3rd for the battery and 1/3rd for the car. For example, a vehicle costing Rs 12 lakh would be broken up as Rs 8 lakh approximately for the battery and Rs 4 lakh for the car. How the battery behaves or is maintained by the user will decide the residual value of the car for the lender. Herein lies the problem and the conflict area. One would be sure that going forward the issue would get resolved, but for the time being, people looking to finance an EV need to reassess their requirements.
Markets seem to be showing signs of resilience even though they were down for the week gone by.

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