Weekly Market Analysis: BSE & NSE top gainer & losers, Latest market news, Technical levels

 

Weekly BSE & NSE top gainer, losers, market news and more: The Indian equity market has gained above 1.5% last week amid a slowing economy. With the support of global cues, the Indian market made a decent gain last week. Stock specific actions were seen in the market in the last week.

 

BSE & NSE top gainer and losers of the week

Nifty gained 185.10 points or 1.52% while Sensex was up 671.83 points or 1.64% in the last week. The Banking index Bank Nifty has gained 370.70 points or 1.15% in the last week.

The NSE top gainer are Yes Bank, Tata Steel, TCS, Bharti Airtel, and HCL Technology. The top five losers in the NSE are Grasim Ind, Vedanta, HUL, Sun Pharma Ind, and BPCL

In the Nifty midcap 100 index was down 25.95 points while the Nifty smallcap 100 index gained 40.80 points in the last week. 

The NSE top gainer in the midcap space are Jindal Steel, Prestige Estate and the losers are Indian Bank, MRPL. Whereas the NSE top gainer in the smallcap space are Laurus Lab, Cyient and the losers are Kalpataru Power, CanFin Homes.

One of the main reasons that the Indian market moved higher in the last week was due to FIIs fund inflow in the domestic market. The FIIs were the net buyers and DIIs were the net seller in the last week in the cash segment. The FIIs bought Rs 4891.70 crore and DIIs sold Rs 3751.47 crore in the cash segment.

 

Sectorwise NSE top gainer and losers

Almost all the major sectors like  IT & Software, Banking & Finance, NSE Realty, Metal, Media were the top gainers last week. The sectors like FMCG and PSE were down in the last week.

 

Derivative Market News

In the Derivative segment, the Nifty future has touched a high at 12298.95 on 20th Dec and weekly low on 16th Dec 12073.90. During the week it has given a movement of 225.05 points.

The Bank Nifty future has touched the weekly high at 32440 on 20th Dec and weekly low at 31848.15 on 16th Dec. In the last week, the Bank Nifty future has given a movement of 592 points. 

Both the Nifty future and Bank Nifty future has closed near the day high on Friday, the last day of the week.

 

Other news in the market

Last week the WPI inflation number for November was announced on 16th Dec during the market. It was reported 0.58% compared to 0.16% on an MoM basis. The food inflation has accelerated the number, it was reported 9.02% against 7.65% on an MoM basis.

Wednesday, 18th Dec The NCLAT has restored Cyrus Mistry as the Executive Chairman of the Tata group. NCLAT holds that the appointment of N. Chandrasekharan was illegal

On the last day of the week, Fitch expected India’s GDP growth at 4.6% for FY20 and 5.6% for FY21. Fitch has affirmed India at BBB- with a stable outlook. According to Fitch India is still looking better compared to other peers.

 

Market events for next week

In the next week, the investors would be in a holiday mood due to Christmas and year-end. Wednesday, NSE and BSE will be closed on the occasion of Christmas. Thursday, monthly derivative expiry is scheduled. 

On the global front, there will be not much activity in the market for the next week. The Indian market may see lesser volume in the next week, particularly after the monthly derivative expiry. 

So far the Indian markets touched new highs on the basis of global cues and FIIs fund inflow. The market may see more news highs in the coming days, as US Treasury Secretary Steven Mnuchin has announced that the US and China would sign their Phase 1 trade deal in the early January.

 

The technical outlook for the market next week

On a technical basis, we the Nifty and Bank Nifty future would trade Sideways to mild up.

Primary Trend Nifty Futures: Sideways Up

Range-Bound Trend of Nifty Futures: 12170 – 12405

Primary Trend of Banknifty Future:  Sideways Up 

Range-Bound Trend of Bank Nifty Future: 31940- 32980

 

Crude and Rupee for the week.

JP Morgan has raised its crude oil price outlook for 2020 due to the decision of output cut in the last OPEC meeting. It has revised the price target of Brent crude on 19th Dec from $59 to $64.5 per barrel for 2020.

During the last week, the Brent Crude futures price has touched high at $66.78  and weekly low at $64.88 per barrel. The Brent crude price closed at $66.04 gained 1.41% during the week.

The Indian rupee closed at Rs 71.06 against the US dollar last Friday. On a weekly basis, the Indian rupee got appreciated by 0.17% against the US dollar.

 

Conclusions:

Indian stock market is touching new highs on the support of global cues and FIIs fund inflow. The market is expected to move sideways to up for the coming truncated week. Traders also need to be cautious and keep themselves updated on the negative news like the increasing price of crude oil, Trump impeachment, weak macro data.

Traders can follow our daily Nifty and Bank Nifty views on our website. You may also like BSE/NSE top gainer and losers, Stock News, lastest market news, etc on our Market Updates on a daily basis.

If you like the post please share with others,

You may also like to read, PSU Bank Merger: Know which stocks to buy now

Your Stock Broker will never say these Hidden Charges.  

Happy Investing!!

Editor’s desk