The Week That Was: Of Macro Events and Auto Sector Blues

Indian Stock Market WrapUp

In yet again holiday shortened week, stock market sentiments were swayed by the macro events such as release of index of industrial production and consumer price index data. Besides, global cues, movement of the crude and currency market trend were on radar as well. China and the US announced they were resuming trade talks in early October. Right on cue, the stock market rallied, bonds and gold fell, and the euro came roaring back from interim lows. Now, the question is whether the stock market rally was justified and whether anything really changed in the China-US trade wars as a result of these new talks. Back home, slowdown blues continued for the beaten down automobiles sector. Finance minister’s statement that millennials preferring Ola and Uber could be one of the reasons for the crisis in the auto sector created quite a buzz in the market. However, Maruti Suzuki had contrasting views over the auto sector crisis. So, the question here is whom to blame for the slowdown? Is the millennial to be blamed? Tune in...