Weekly Market Wrap From 28th Aug to 1st Sept 2023
Nifty bounces from support; Global cues, Brent prices to be watched Nifty closed in the green after 5 consecutive losses on the weekly chart. Buying interest was seen in metal stocks followed by auto and consumer durable stocks last week. Conversely, there was a trend of profit-taking in oil & gas, FMCG and pharmaceutical stocks. Healthy macroeconomic data, including the June quarter...
Weekly Market Wrap From 7th Aug to 11th Aug 2023
Result season keeps market busy; Macro data, Brent prices, Currency movement in focus Markets extended the downfall for the third week in a row as gains were capped after the RBI, in a surprise move, imposed a 10 pct incremental cash reserve ratio (ICRR) on banks starting August 12. Inflation concerns resurfaced as RBI elevated their CPI forecast by 30 bps to 5.4 pct. Global markets was...
Market Morning Notes For 1st Aug 2023
Markets ended with gains of 0.5% yesterday on back sharp jump USDJPY with IT and Metals turning main contributors on Monday. With base metals prices surging almost 2% in yesterday’s trade, we expect this to impact the financial sector negatively. For Nifty, a move below 19700 should be seen as a reversal. The crucial support for Nifty is seen at 19,600 on closing basis below which,...
Weekly Market Wrap From 24th July to 28th July 2023
Result season keeps the market busy; Macro data, Brent prices, and Currency movement are in focus Benchmark indices fell after four-week gains on selling pressure in index pivotals. Some profit booking was observed which consequently dragged down the key indices. The global stock market continued to move upward. The Fed raised the interest rates by 25 bps to 5.25 to 5.50 pct. The Federal...
Weekly Market Wrap From 17th July to 21st July 2023
Nifty faces hurdles near 20K; Fed Meeting, Q1FY24 results season in focus The benchmark indices gained for the fourth consecutive week despite a 1 pct decline on Friday which was mainly triggered by disappointing full-year guidance by Infosys. However, the sentiments were upbeat for the most part of the week on the demerger-led value unlocking of Reliance Industries and sustained FII...
Weekly Market Wrap From 26th June to 30th June 2023
Nifty crosses 19K convincingly; FII flows, results season in focus Markets gained sharply at the beginning of the July series as the bulls made a strong comeback resulting in new highs in the benchmark indices. Nifty breached the significant psychological level of 19,000, while Nifty Bank reached an all-time high during Friday’s session. Sustained buying by the FIIs and the advance...
Weekly Market Wrap From 19th June to 23rd June 2023
Nifty near an all-time high, Monsoon progress, global cues in the limelight Benchmark indices inched towards new highs as optimism over the domestic economy and FII inflows boosted investors’ confidence. Volatile was high with Nifty closing the week above the crucial support level of 18600, while the Bank Nifty once again struggled to hold 44000 level. For the week, the Nifty fell 0.8 pct...
Weekly Market Report From 5th to 9th June 2023
Nifty ends flat, RBI policy outcome as expected; Fed Meet in focus. Markets remained range bound, and the Nifty ended almost flat during the week helped by firm global trends and positive news flow on the domestic macro front. The Reserve Bank of India’s Monetary Policy Committee’s decision on June 8 to hold policy rates was pretty much along expected lines and the overall...
Weekly Market Report From 29th May to 2nd June 2023
Nifty flat for the week; RBI policy in focus Benchmark indices traded flattish positive bias, but midcap and smallcap indices outperformed. Sentiments across the globe were boosted after the US Senate approved the debt-ceiling suspension till January 1, 2025, thereby, averting a default. For the week, the Nifty ended flat at 18,534 levels, up 0.2 pct while the Nifty Midcap 100 and Nifty...