Weekly Market Updates- Indian stock market closed higher, global markets declined

 

Market updates ( 7-11 Dec): Indian stock market closed on a positive note on a weekly basis and outperformed the other major global indices. Nifty gained 255.3 points or 1.92%  and closed at 13513.85 while Sensex gained 1019.46  points or 2.26% and closed at 46099.01. The Bank Nifty on the spot level gained 552.45 points or 1.84% and ended at 30604.85 on 11 December week.

The Nifty midcap and smallcap stocks also closed higher on a weekly basis. Nifty midcap 100  gained 239.9 points or 1.19%  and closed at 20437.2 while Nifty smallcap 100 gained 124.6  points or 1.86% and ended at 6823.95.

 

Nifty50 weekly gainers and losers

 

Weekly NSE Nifty Top Gainers
Company Name	LTP	Previous Close	Change (%)
ITC	216.30	198.20	9.13
Hind Unilever	2374.75	2184.20	8.72
ONGC	96.80	89.85	7.74
GAIL	125.85	119.80	5.05
Kotak Mahindra	1920.40	1846.25	4.02
Weekly NSE Nifty Top Losers
Company Name	LTP	Previous Close	Change (%)
UPL	435.00	455.70	4.54
Shree Cement	23805.00	24912.85	4.45
Hindalco Industries	243.65	252.70	3.58
Eicher Motors	2470.80	2553.50	3.24
Grasim Industries	902.25	931.50	3.14

 

Nifty midcap & smallcap gainers and losers

 

Weekly NSE Nifty Midcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
Yes Bank	19.45	15.35	26.71
Canara Bank	125.25	111.20	12.63
Weekly NSE Nifty Midcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
IRCTC	1421.00	1570.60	9.53
Edelweiss Fin	74.85	81.90	8.61
Weekly NSE Nifty Smallcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
Karur Vysya Bank	47.15	37.75	24.90
Spicejet	106.15	89.35	18.80
Weekly NSE Nifty Smallcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
Granules India	387.60	422.05	8.16
JK Lakshmi cement	343.75	362.85	5.26

 

FIIs & DIIs movement

 

FIIs were the buyers and DIIs were the seller in the cash market segment on the week ended 11 December. On a weekly basis, FIIs bought Rs 16721.3 crore and DIIs sold Rs 12535.34 in the cash market segment.

 

Indian stock market weekly updates

 

The Indian stock market started the week ended 11 Dec on a positive note amid a decline in the foreign exchange reserve. The domestic markets mostly traded positively during the first half of the week on the upbeat global market sentiments and on coronavirus vaccine news.

The hopes of the global economic recovery and a better employment trend in the first quarter of 2021 in Indian in a private report added some optimism in the market during the week. 

Asian Development Bank’s raising growth for the Indian economy and Nomura’s forecast for the fastest economic growth in India in 2021 even better than China has also added some fuel to the market optimism.

However, some mixed macro data from the global front, delay in stimulus package in the US, concerns about the Brexit trade deal, and rising coronavirus cases capped the market gains on the higher side at the end of the week.

 

Global stock market updates 

 

The US major indexes hit a new high on Wednesday, profit booking on the later half dragged down the US indexes and closed in the negative on a weekly basis. The smallcap index continued to perform for the fifth consecutive week and closed higher on the week ended11 December. 

The Pfizer/BioNtech positive vaccine news has boosted the market sentiment early in the week. The impact of rising coronavirus cases was perhaps the most evident in weekly jobless claims which jumped at the highest levels in nearly three months. The market indexes erased all their early gains at the end of the week due to concern about rising infection and stimulus aid.

The European stock markets also declined during the week on concerns about the rising coronavirus infection and its impact on economic growth and uncertainty surrounding a post-Brexit trade deal and US stimulus measures.

The European market sentiments have become negative in the latter half of the week even after ECB injected additional stimulus. France has extended the lockdown, other countries in the region may follow the same to combat the new wave of infection in the continent. The UK-EU failed to break the deadlock over a post-Brexit trade deal, the two leaders have set a final deadline by Sunday for the last attempt.

Japanese stock market index Nikkei fell marginally during the week even after the announcement of stimulus measures. Investors were concerns about the new wave of coronavirus cases in the continent. Chinese stock market slipped on a renewed tension with the US after some Chinese companies removed from US benchmarks indices.

Conclusions:

You can visit our website tomorrow for key factors that may impact the market next week and Nifty and Bank Nifty technical levels for the next week.

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Happy weekend !!

Editor’s Desk