Market This Week: Sensex down 0.88, Nifty down 0.74

Markets this week : This week (Feb 17 to Feb 23) was dull, no big profit for the investors major stocks clocked down and there were no big global cues to boost the market.

This week, the Nifty was down 0.74 percent, BSE Sensex was down by 0.88 per cent, the Midcap was down by 0.3 per cent.

But the Smallcap went up by 0.5 per cent this week.

In the BSE 500 index, the gainer was Kingfisher which gained around 23 per cent in the week, while the Jet Airways was the loser.

This week’s Nifty gainers were DLF(13.2%), ACC (3.4%), Wipro(4.4%) and Ambuja ( 3.2%)

And Nifty losers of the week were JPC (7.1%), Coal India (4%) and Tata Motors (3.8%),.

In the sectoral indices, the FMCG, Bankex were seen dull in the week.

On Friday, the BSE Sensex was down by 0.04%, closed at 19,317 points. Nifty was closed at 5,850.30 points, down by 1.95 (0.03%) , due to heavy selling at both the markets.

The markets were flat since the beginning, there were bit up after lunch session.

Next week there could more active movement in the stock market as the government will present its union budget for 2013-14 on Feb 28.

Budget updates:

People having income of 20 lakh rupees or more may need to pay more income tax as the government may levy 2 to 5 per cent of surcharge on the income tax, according to media reports. The surcharge on superlative group was scrapped in 2009-10 union budgets.

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Rural Weekly Market - A Good Concept

The Weekly Market in the rural areas is a good concept, where the villagers across the sub-urban areas sell their goods and services. The weekly markets are called 'Haat' ( in Odisha), the gathering there look very dull but the volume of trade is more as a like big complexes do. There are no terms and conditions to do weekly business there but to settle down at a place where you want to sell you products.

People of the rural belt are very simple and they aim to satisfy their customers and they allow the discounts in their on own style. There are chances of bargaining and high margin for the best deal for either sides. Those markets are the only option for the traders to sell their goods once in the weekly market.

Recently, I've visited one of the such markets in the area of Kotpad in Koraput district of Orissa. Where the volume of products may be more than 2000 items and weight can't even measure approximately. Around 10,000 people will be shopping and around 500 people will be selling their goods. In fact this is the best market to get the fresh items you are looking for. If the transaction for the day of the weekly market is considered then the amount would not be less than in some lakhs and a fine place for economic students see the real velocity of money there.

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