Weekly Share market updates: latest stocks in the news, market events, and market trends

 

Share Market Updates: It was a negative week for the market, Nifty fell 134.55 points or 1.12%  and Sensex declined 348.66 points or 0.86%. In the end, Nifty closed at 11921.50 and Sensex closed at 40445.15. Profit booking was also seen in Bank Nifty, it fell 604.55 points and closed at 31341.55. All levels mentioned here are on a spot rate basis.

 

Weekly Share Market Updates:  Nifty50 stocks

The top weekly gainers in Nifty50 stocks are Kotak Mahindra, TCS, Infosys, ICICI Bank, and Wipro. These stocks gained 1.5% to 3.5% in the last week and Kotak Mahindra was the top gainer in the lot. 

The losers in the Nifty50 stocks are Yes Bank, Eicher Motor, GAIL, IndusInd Bank and Coal India. These stocks fell between 6.5% to 18%, Yes Bank was the top loser among the lot

The Nifty midcap 100 index was declined 490.15 points or 2.85% in the last week and closed at 16732. Whereas the Nifty smallcap 100 index was down 117.85 or 2% during the week and closed at 5697.

 

Share Market Updates- Sectors| FIIs & DIIs

On a sectoral basis, the Automobiles, Banks, Media, Metal, Capital goods, Infrastructure and Telecom were closed in red in the last week. IT & Software, Oil & Gas, Insurance, FMCG, and Footwears were closed in green.

FIIs were the net seller and DIIs were the net buyers in the cash segment last week. FIIs sold Rs 3857.81 crores and DIIs bought Rs 2422.32 crore in the last week in the cash segment.

 

Share Market Updates: Main reasons for market fall 

The first reason for the market fall was due to the reaction of weak GDP numbers which was announced on 29th November aftermarket. Though GDP numbers were in line with the market expectation for it was 6 years low.

The second reason is the outcome of the RBI Monetary Policy. The Market was expecting another rate cut in the RBI Monetary policy but the rate remained unchanged.  

And the third reason is FII’s/FPIs fund outflow. The FIIs were net buyers in the October and November series but in December so far they are net seller already sold Rs 3857.81 crores.

 

Share Market updated news last week

Yes Bank reported last week to raise up to USD 2 Billion through preferential allotment. Despite the positive news, it tanks 6% on 2nd Dec. Later Moody has downgrades the Bank’s long term foreign currency issuer rating from Ba3 to B2. In the last week, the share price of Yes Bank declined 18% 

Last week all telecom shares gained because of the 47% tariff hike news, Bharti Airtel also gained 3.6% on the news. Later the board of Bhati Airtel approved to raise USD 3 billion via debt and equity. The share price of Bharti Airtel gained 0.54% in the last week.

The Cadila Healthcare board has approved its merger/amalgamation scheme of Zydus Tech, Alidac Pharma, Liv Pharma, and Dialforhealth India with the company. The Company has also got EIR from the USFDA for one of its units. The share price of Cadila Healthcare gained 0.45% in last week.

Dr. Reddy’s Lab has got USFDA approval for a new drug launched recently. The share price of Dr. Reddy Lab fell 0.79% in the last week.

The Coal India’s November production was down 3.9% at 50.02MT and offtake was down 7.6% at 47.37% YoY as per the report. The share price of Coal India fell 6.46% in the last week.

Maruti Suzuki is set to increase its Vehicle cost on all across models from January 2020. On the other day, it has decided to recall 63,493 petrol-hybrid variants of Ciaz, Ertiga and XL-6 model to rectify the safety defects. The share price of Maruti Suzuki has declined by 4.96% in the last week.

IT Stocks in the news last week

The IT company Wipro has launched an advanced cloud security operations center (SOC) services using Microsoft Azure Sentinel. The share price of Wipro has gained 1.39% in the last week.

Infosys Finacle has got an order from The Glory Farmer Development Bank of Myanmar for the digital solution and transformation of the retail division of the bank. The share price of Infosys has gained 2.69% in the last week.

 

Factors that will influence the share market next week.

Next week the Indian market will influence by global factors, there are not many events scheduled in the domestic front. In the domestic front, Industrial Production for the month of October and November CPI Inflation rate will be released on 12th Dec. The Industrial Production which was contracted 4.3 against the contraction of 1 in the previous month can see downwards.

On the other hand, the CPI inflation which was 4.62% in the last month can inch up to 5%. The Indian macro data can create a negative sentiment in the market for next week.

On the global front, the US market closed positive due to the strong job creation data in the US. The US market was positive as this could be the small step of improvement in the US economy. Investor’s hope of signing the US-China Phase one trade deal is still alive. But the strong job data and recent import tariff hike on Argentina and Brazil indicate the delay in the trade deal signing process.

The Fed meeting is scheduled on 10-11th of next week. The outcome will impact on 12th in the  Indian market, this time the Fed is expected to unchanged the rate but the commentary would be important.

The UK election is scheduled on 12th December. The election result will decide the exit path of Britain from the European Union. We may see some global market volatility during the time of election results.

 

Crude and Rupee updates

The crude oil was trading higher on the expectation of production cut in the OPEC meeting. In the meeting, OPEC agrees to cut production by an additional 500,000 barrels per day. This brings the total production cut to 1.7 million barrels a day. The Brent crude oil price closed at $64.39 per barrel.

The Indian rupee has closed at Rs 71.28 against the US dollar.

Conclusions

Indian share market closed negatively in the last week all updates are mentioned above. There was only one positive day out of five trading days in the last week. The Macro data and FIIs outflow dragged down the market almost 1% lower from the all-time high. The coming week is expected to be volatile due to global as well as domestic factors mentioned above. 

In the longer-term market is still looking positive but in the short run, it may further down say another 1% in the coming week. Traders can follow our daily Nifty and Bank Nifty views and the share market update on a daily basis here.

 

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Happy Investing!!

 

Editor’s Desk