Weekly market updates: Sensex & Nifty50 Index was down whereas Midcap & Smallcap were gainers

 

Sensex & Nifty50 Index: Indian equity market was down in the last week, Sensex was down 332.18 points or 0.81% while Nifty50 Index down 104.04 points or 0.86%.  Bank Nifty has declined 348.90 points or 1.13% during the week. 

The market was corrected for the initial three days, last week. It was due to the quarterly results of heavyweight stocks and the absence of any support form the global market. The Indian market has got some momentum in the last two days of last week and could erase initial days’ losses.

 

Nifty50 Index stocks, Midcap & Smallcap & Sectors movement last week

The Nifty50 index stocks which gained in the last week were Bharti Infra, Yes Bank, Grasim Industries, Bharti Airtel and Larsen & Toubro. The losers in the Nifty50 index were UPL, Coal India, ONGC, Tata Motors, and NTPC.

In the Nifty midcap space, the index gained 283.30 points or 1.55% in the last week. The top gainers in the Nifty midcap were AU Small Finance, Barun Beverage and the losers are Edleweisse Finance, Oil India.

In The Nifty smallcap space the index gained 56.95 points or 0.90% during the week. The top gainers in the last week were  Can Fin Homes, IRB Infra and the losers were ITI, DCB Banks.

On a weekly basis, the gaining sectors were IT & Software, Realty, FMCG, Media, and Consumption. Whereas the losing sectors for the week were Banking & Fiance, Pharma, Energy, PSE, Metal, and Automobiles.

The FIIs were the buyers and DIIs were the seller in the cash segment last week. The FIIs bought Rs 1790.60 crores and DIIs sold Rs 2620.48 crores in the cash segment during the week.

 

Nifty50 & Bank Nifty Index future last week

On a weekly basis, the Nifty50 index in futures opened at 12413.40 and touched a weekly high on the same day on 20th Jan at 12419.20 and a low at 12110 on 22nd Jan. During the week, the Nifty future has given a movement of  309.20 points.

The Bank Nifty future share opened last week at 31997.65 on Monday and it has touched high on the same day at the same level and week’s low at 30680 on 23rd Jan. During the week, Bank Nifty has given a movement of 1317.65 points.

 

Stocks in the news last week

The D-Mart promoter Radhakrishan Damani had invested in Spencer Retail.  Damani had purchased a 2.09% stake in Spencer Retail last week and the share price reacted positively last week.

Raymond had reported a very good December quarter result, its net profit jumped to Rs 196.8 crore as compared to Rs 40 crore in the same period last year. The company’s revenue also got up by 12.5% at Rs 1885.4 crore compared to Rs 1675.2 crore on YoY basis.

IndiaMart reported a 23% YoY growth in revenue to Rs 165 crore. It has increased due to the increasing number of subscribers and higher realization from the existing customers.

PNB Housing Finance had reported weak Q3 earnings. The company reported a 22% degrowth in Q3 earnings. Its net profit reported 237 crores as compared to Rs 303 crore on YoY basis.

 

Nifty50 Index stocks in the news last week

Asian Paints reported an increase in net profit by 20.5% at Rs 780 crores compared to Rs 647.3 crore on YoY basis. Its revenue got up by 3% at Rs 5420 crore as compared to Rs 5263 crores on a YoY basis. 

Zee Entertainment had reported a weak set of December quarter numbers. The company’s net profit fell sharply by 37.9% to Rs 349.4 crore from Rs 562 crores last year in the same period. The revenue from operation also dropped to 5.5% to Rs 2048.7 crore on YoY basis. 

L& T had reported profit growth of 15.5% on YoY basis to Rs 2352 crore in December compared to Rs 2042.62 crore in the last year the same period. The profit is driven by lower tax costs and operating income. Foreign research houses are positive on L&T Q3 earnings.

JSW plans to raise Rs 1000 crore through listed, redeemable, non-convertible debentures.

Ultratech Cement reported a good set of Q3 numbers last week. The company’s net profit rose by 90.2% at Rs 711.3 crores s compared to Rs 374.1 crore. The revenue was down at Rs 10,354 crore against Rs 10,444 crore on YoY basis.

After the statement made by SBI Chairman Rajnish Kumar that the private lender like Yes Bank will not be allowed to fail. The share price of Yes Bank reacted positively in the last two trading sessions.

The good set of Q3 earnings of a few heavyweights stocks like, L&T, Ultratech Cement, Asian Paints have lifted the market in the last two days of the week.

 

Market events for the next week

Next week the market will have 6 trading days, as Union Budget is 1st Feb Saturday and the market will be open like normal trading days. The monthly derivative expiry is on 30th Jan Thursday. Infrastructure output numbers will be announced on 31st Jan Friday.

The next the Nifty50 index stocks that are going to announce their Q3 earnings are HDFC, Maruti, Bajaj Finserv, Bajaj Finance, Bajaj Auto, IOC, Tata Motors, HUL, PowerGrid, SBI, VEDL. Other than this there 700 plus midcap and smallcap companies will announce their third quarterly results.

 

Technical levels of Nifty and Bank Nifty future for the next week

Primary Trend Nifty Futures: Mild up and Volatile

Range-Bound Trend of Nifty Futures: Nifty future will range from 12120 – 12460 during the week 

Primary Trend of Banknifty Future: Mild up and Volatile

Range-Bound Trend of Bank Nifty Future: Bank Nifty future will move in the range of 30200- 32500 during the next week.

 

Crude and rupee updates

The crude oil price has corrected heavily last week. The Brent crude oil future was down 6.41% on a weekly basis. It has touched high at $66 per barrel and low at $60.25 per barrel. Yesterday it closed at $60.62 per barrel near the weekly low.

The Indian rupee has become weak by 0.45% during the last week. It has closed at Rs 71.33 against the dollar yesterday. 

 

Conclusions:

Indian stock market was down last week because of investors fear on slow growth and weak Q3 earnings. The Coming week will have 6 trading days due to Union Budget on 1st Feb, Saturday. The monthly derivative expiry on 30th Jan and high expectation on Union Budget will make the market volatile next week.

Traders are advised to trade with strict stop loss and be cautious while carryforward their position in the next week. Traders can also follow our daily Nifty50 and Bank Nifty future Index levels. 

 

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Happy Investing!!

Editor’s Desk