Weekly Share Market News: BSE/ NSE indices made a decent gain this week

 

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Weekly Share Market News and NSE Indices: The Indian markets made a decent gain this week. The benchmark indices Nifty gained 193.2  points or 1.73% and at 11371.6 while Sensex was up by 557.38 points or 1.47% and closed at 38434.72. The Bank Nifty on spot added 620 points or 2.86% on a weekly basis and ended at 22299.6.

Weekly basis, the NSE indices, Nifty midcap and smallcap 100 outperformed the benchmark.  The Nifty midcap gained 589.95 points or 3.65% and at 16982.2 while the Nifty smallcap was up by 290.10 points or 5.37% and closed at 5659.45 levels.

 

Derivative Market News: NSE indices Nifty, Bank Nifty

 

Last week Nifty futures opened at 11272.65, made a weekly high of 11466.40, and low at 11155.35. During the week the Nifty futures has given a movement of 311.05 points. The Bank Nifty futures opened at 21900 on last Monday and made a weekly high of 22466.15 and low at 21394. During the week it has given a movement of 1072.15.

Top Gainers and Losers in the NSE indices last week

 

Weekly NSE Nifty50 Gainers
Company Name	LTP	Previous Close	Change (%)
NTPC	105.95	88.40	19.85
Zee Entertainment	192.02	161.20	19.14
Asian Paints	1958.00	1802.55	8.62
Hero Motor Corp	3033.45	2803.80	8.19
Power Grid	189.10	175.40	7.81
Weekly NSE Nifty50 Losers
Company Name	LTP	Previous Close	Change (%)
Tata Motors	120.90	124.60	2.97
Bharti Airtel	520.25	528.60	1.58
Reliance Industries	2081.85	2113.80	1.51
Cipla	760.75	771.80	1.43
Wipro	273.35	276.50	1.14

 

Weekly NSE Nifty Midcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
Sun TV Network	474.55	400.15	18.59
Future Retail	122.35	103.30	18.44
Weekly NSE Nifty Midcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
Vodafone Idea	8.50	8.95	5.03
L&T Infotech	2367.55	2440.00	2.97

 

Weekly NSE Nifty Smallcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
Himadri Specialty	60.55	45.00	34.56
Inox Leisure	303.60	257.00	18.13
Weekly NSE Nifty Smallcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
Spandana Sphoort	602.00	626.25	3.87
Omaxe	73.00	74.45	1.95

 

News that influenced the Indian share market last week

 

The Indian share market started with a positive note on the last Monday and traded with an optimistic mode except on Thursday. In the absence of any major trigger in the domestic front, the market took support from global cues in the last week. 

The market has overlooked rising coronavirus cases in India and the UK last week, Japan’s weak GDP numbers, the US stimulus delay, and tension between the US-China. Whereas it took support from the positive US and Asian markets most of the time during the week. Indian markets reacted negatively on 20th August after US Fed Reserves highlighted uncertainties facing the US economy on the previous night.

 

Share Market News on Domestic front

The State Bank of India expects that India’s GDP to contract 16.5% in June end Quarter from an earlier projection of a 20% decline in May.

The Finance Minister Nirmala Sithraman invited the Middle Eastern Nation to participate in India’s ambitious Rs 111 lakh crore National Infrastructure pipeline where 7000 projects were already identified.

The government has sped up the process of reducing the government’s stake in state-owned banks & IRCTC in the current fiscal year. The four state-owned banks are Punjab & Sind, Bank of Maharashtra, UCO Bank, and IDBI Bank.

Last Tuesday Reserve Bank Of India released a framework to set up a PAN-India umbrella entity focusing on the retail payment system.

The World Bank on Wednesday indicated further reducing the growth projections for India. Earlier the World Bank projected that the Indian economy will be contracted by 3.2% in FY21 and rebound slowly in the next fiscal.

 

Quarterly reports:

The only Nifty50 company announced its Q1FY21 result this week was ZEEL on 18th August along with dozens of other midcap and smallcap companies. The Company has reported a 94.3 percent YoY fall in its consolidated Q1 net profit at Rs 30.4 cr as against Rs 530.6 cr in the last year the same period. The company’s revenue was down 34.7% at Rs 1312 cr versus Rs 2008 cr. EBITDA for Q1FY21 was Rs 107.6 cr down 67%.

The share price of Zee Entertainment reacted positively after the Q1FY21 results despite it missed the street estimates. As per the NSE’s announcement on Friday, ZEEL will be out of the NSE Nifty50 index from 25th September.

 

FIIs and DIIs movement

FIIs are bullish in the Indian market and continuously buying in the cash market segment whereas DIIs are selling continuously for the last two months. Last Week FIIs bought Rs 2066.18 cr whereas DIIs sold Rs 2117.01 in the cash segment. 

 

Conclusions:

Indian share market gained last week on the support of global markets. Markets are looking positive in the near term. In the absence of any major trigger in the domestic front, the share market will trade as per global news. The traders should be cautious in the mid of the week as the market is expected to be volatile due to derivative monthly expiry.

Tomorrow traders can read the Key factors that will influence the Indian market next week and NSE indices Nifty and Bank Nifty technical levels for the next week on our website.

 

You may be interested to read, Nifty50 Stocks list | Index | Share price

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Happy weakened!!

Editor’s Desk