Weekly Share market – Nifty & Sensex marginally down, Bank Nifty closed in green

 

Share Market Nifty & Sensex: The Indian share market was marginally down in the last week. Last week there were only four trading days, the 25th December market was closed on account of Christmas. Profit booking was seen consecutively for the first three days in the expiry week. After three consecutive falls, a sharp bounced back was seen in the market on the last day.

 

Weekly Share market- Nifty & Sensex movement

On a weekly basis, Nifty fell 26 points while Sensex was down 106.40 points last week. The Nifty Banking index Bank Nifty was up 27.4 points on a weekly basis. The Nifty midcap was gained 99.85 points and the Nifty smallcap was up 64.20 points.

The top gainers in the last week on Nifty 50 stocks are Zee Entertainment, Vedanta, Cipla, Bajaj Finance and Axis Bank. The losers in the Nifty 50 stocks are Yes Bank, Reliance Industries, Britannia Industries, Adani Ports, and ITC.

In the Nifty midcap space, the weekly gainers are Indiabulls Venture, Indian Hotels and the losers are Quess Corp, Union Bank. The top gainers in the Nifty smallcap space on a weekly basis are IDFC, Kaveri Seeds and the losers are Lux Industries, Arvind Fashions.

Among the sectors, on a weekly basis, the gaining sectors are Metal, Automobiles, Media, Reality and Banking & Finance. Whereas the sector which closed in red in the last week are IT& Software, FMCG, Energy, and Capital Goods.

FIIs are net buyers and DIIs are the net seller in the cash segment last week. FIIs bought Rs 926.14 crores and DIIs net sold Rs 2046.35 crores in the cash segment last week. On the global front, The US market has touched the record high last week due to hops of the trade deal signing.

 

Weekly Derivative Segment- Nifty and Bank Nifty future

 Last week Nifty future gained only 19.10 points, the Nifty future opened at 12300.15 on 23rd and closed at 12319.25 on 27th Dec. It has touched a weekly high at 12345.75 on last Monday 23rd Dec and week’s low at 12188 on the expiry day last Thursday.

The Bank Nifty future opened the week at 32215.10 and closed at 32604.70, it has gained 389.6 points. It has touched weekly high on last Friday at 32633.75 and week’s low at 32160 on the expiry day. 

 

Share market Nifty stocks in the news last week

The Railway ministry has last week revised the tariff of standard meal on static units all over Indian Railways. This has benefited the share price of IRCTC last week.

The government had announced that BPCL disinvestment may take some time and it is likely to push next financial year. The share price of BPCL and other PSE corrected on the news. 

Last week Brickwork rating has downgraded Yes Bank and CITI has cut the target price of Yes Bank from Rs 50 to Rs 46. This news has corrected the share price of Yes Bank in the last week.

The Bombay High Court has ordered the appointment of a court receiver to sell Talwalkar’s Healthclub equipements from about 50 gyms of the company.

The government has released a fresh capital infusion fund to Allahabad Bank, UCO Bank, and Indian Overseas Bank. The Allahabad received Rs2153 crores, UCO Bank 2142 crores, and IOB Rs 4360 crores. The share price of all PSU Bank banks gained on the news in last Friday

 

Share market event next week

The next week market will welcome the new year 2020, investors will be on holiday mood.

On 31st December India’s Infrastructure Output number will be released, the Infrastructure Output data for Oct month was declined 5.8. The current account deficit numbers are going to announce on 31st Dec.

In the domestic front, the Auto sales numbers will be announced on 1st Jan 2020. The investors can see some movement in Auto Stocks.

On 2nd Jan Markit Manufacturing PMI data will be released and on 3rd Jan 2020. And the Foreign exchange reserve data will be announced.

 

Next week Share Market-Technical levels of Nifty and Bank Nifty future

Primary Trend Nifty Futures: Sideways Up

Range-Bound Trend of Nifty Futures: Nifty future will range from 12130 – 12410 during the week 

Primary Trend of Banknifty Future:  Sideways Up 

Range-Bound Trend of Bank Nifty Future: Bank Nifty future will move in the range of 31800- 33400 during the next week

 

Cude and Rupee updates

The Crude Oil price is trading three months higher, it is rising on the hopes of the US and China trade deal signing and OPEC output cut from January. The Brent crude oil future is trading at $68.15 per barrel. It has gained 3.05% in the last week.

The Indian Rupee has also gained 0.35% in the last week and it closed at Rs 71.46 against the US dollar. If the crude price increases further than the Indian rupee will depreciate and this can restrict the equity market’s journey towards northwards.

 

Conclusion

Indian share market bounced back on the last day of the week. The market is looking positive for the next week but most of the time it will move sideways. The global market is trading positive on the hopes of trade deal signing in January. In the domestic market, the auto sales numbers for December are going to announce on 1st and this time some positive development can be seen in Auto sales.

Investors should track the rising crude oil price closely, this can also spoil the mood of the domestic market in the coming days. Traders can follow our daily updates on the share market, Nifty and Bank Nifty future technical levels on our website

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Happy Investing !!

Editor’s Desk