- The Nifty index closed 1.2% lower in the past week, while the Sensex closed at the lowest point of the weekly close at 58,098.

- After being net sellers in the past for a few months, FIIs turned net sellers month till date to the tune of Rs 2,445 crore. We expect FPI flow to remain volatile in the coming months.

- The U.S. Fed’s hawkish tone on interest rates and the fear of a global recession has fuelled pessimism among investors.

- The INR plunged 1.4% against the US$ to close at Rs 80.8/US$.

- PICK OF THE WEEK – Indigo – InterGlobe Aviation – BUY. Target: Rs 2,710. Our assessment of the trajectory of yield and cost, as well as new competitors, bodes well for InterGlobe Aviation’s spreads from hereon. Travelers are getting comfortable spending on air travel and are looking beyond rail travel even for travel booked mu ...