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Dec. 31, 2018, 12:25 a.m.


The Indian stock markets were volatile during the F&O expiry week and closed on Friday with small weekly gains of less than 1 percent over last Friday's close. The Sensex rose 0.93 percent this week, at 36,076.72, while Nifty was up 0.98 percent, closing at 10,859.9. The S&P BSE Largecap and Midcap index gained 0.94 percent and 0.70 percent, while S&P BSE Smallcap Index was ended down 0.19 percent. On YTD basis, the NSE Nifty has gained 3.13 percent this year as of close of the penultimate trading session, while the BSE index has risen 5.93 percent during the same period. Both indexes are on track for a fourth yearly gain in five.The pain was deeper in midcap and smallcap stocks as the S&P BSE MidCap Index declined 13.82 percent and the S&P BSE SmallCap Index plunged 24 percent in 2018.

NIFTY FUTURES ROLLOVER FOR JANUARY SERIES Nifty futures rollover stood at 74 percent, slightly higher than average rollover of 68 percent in the last three series, and market-wide rollovers at 81 percent were in-line with the average rollovers in the last three expiries. Market-wide future open interest stood at Rs 1.28 trillion on expiry day compared to Rs 1.29 trillion seen at the beginning of the previous series. Nifty fell 0.7 per cent in the December series.

WORST DECEMBER FOR WALL STREET SINCE 1931 US stock market ended with a moderate loss in a choppy Friday session but held on to their first weekly gains of the month in a turbulent holiday environment marked by wild swings between gains and losses. The Dow Jones Industrial Average and S&P 500 rose more than 2 percent for the week, while the Nasdaq added nearly 4 percent. The indexes are still all down around 10 percent for the month and on track for their worst December since 1931.

THE GLOBAL REPORT CARD 2018 The S&P 500 is down about 7 percent for 2018, the Shanghai composite is off 25 percent, the Shenzhen 33 percent, France's CAC 40 13 percent, Germany's DAX 20 percent, London's FTSE 100 15 percent and Japan's Nikkei nearly 12 percent. Brazil and India, however, are up 12 percent and 5 percent. Nikkei index posted first yearly loss in seven years and S&P 500's first yearly loss since 2015 amid growing concerns about a global economic slowdown following the U.S.-China trade war.

CRUDE OIL FALL EXTENDS INTO THE THIRD STRAIGHT WEEK! For the week, WTI finished with a decline of 0.6%, while Brent booked a weekly fall of 3%. Both grades logged their third consecutive weekly losses. Ongoing geopolitical fears, as well as global demand and oversupply issues continued to clout the crude oil in 2018, with Brent crude averaging above USD 70 per barrel against USD 54.22 last year.

COMING UP NEXT WEEK! With the year coming to an end, investors will be watching key US economic reports next week, including on manufacturing and employment. S imilarly, India's Manufacturing PMI and Service PMI numbers will release on 2ndand 4thJanuary, 2019, respectively.

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