Stock Market Weekly Recap & Analysis (25- 29 July)
Indian Stock Market Weekly Recap and Analysis (25- 29 July): Indian equity market indexes advanced for the second straight week ended 29 July. The benchmark indices, Sensex and Nifty gained over 2.5 percent each in the hope that the global central banks may go slow on interest rate hikes. The market sentiments were upbeat, due to ease in commodity prices, FIIs inflow, and good progress in the monsoon.
The global market sentiments were positive due to optimistic quarterly earnings. The sentiments got further boosted after the US Fed hinted at slowing down rate hikes going forward and rejected the speculation that the US economy is in recession.
Among the sectors, the Metals and IT sectors gained the most while Auto and PSU Banks closed in the red during the week. FIIs were the net seller last week, they sold Rs 145.87 crore while DIIs bought Rs 2238.51 crore in the equity cash segment.
Weekly Analysis of Indian Stock Market Indexes (25- 29 July)
On a weekly basis, Sensex climbed 1498 points or 2.67%, and closed at 57570.25, while the Nifty gained by 438.8 points or 2.63%, and ended at 17158.25 levels. The Bank Nifty on the spot price jumped 752.45 points or 2.05 % on a weekly basis and finished at 37491.4 levels.
The broader markets underperformed the benchmarks last week. The Nifty midcap index gained by 586.4 points or 2.02 percent and closed at 29634.25 levels. The Nifty small-cap index closed marginally higher by 42.45 points or 0.47 percent and ended at 9171.2 levels during the week.
Nifty 50 weekly top gainers and losers
| Weekly Nifty 50 Top Gainers | ||||
| Company Name | LTP | Previous Close | Change (%) | |
| Bajaj Finserve | 15047.00 | 12754.25 | 17.98 | |
| Bajaj Finance | 7209.10 | 6258.25 | 15.19 | |
| Tata Steel | 107.60 | 93.61 | 14.94 | |
| SBI ife | 1294.90 | 1164.95 | 11.11 | |
| IndusInd Bank | 1043.50 | 942.45 | 10.72 | |
| Weekly Nifty 50 Top Losers | ||||
| Company Name | LTP | Previous Close | Change (%) | |
| Dr. Reddy’s Lab | 4090.35 | 4373.50 | 6.47 | |
| Bajaj Auto | 3914.45 | 4054.50 | 3.45 | |
| Hero Motor Corp | 2818.05 | 2871.60 | 1.86 | |
| Eicher Motors | 3093.45 | 3147.60 | 1.72 | |
| M&M | 1164.45 | 1181.10 | 1.41 | |
Mid-cap weekly top gainers and losers
| NSE Weekly Nifty Midcap Top Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Navin Fluo Intl | 4383.35 | 3787.85 | 15.72 |
| Dr. Lal Path Labs | 2303.60 | 2089.50 | 10.25 |
| Adani Total Gas | 3127.20 | 2874.20 | 8.80 |
| NSE Weekly Nifty Midcap Top Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| M&M Financial | 186.70 | 211.05 | 11.54 |
| PB Fintech | 468.25 | 520.10 | 9.97 |
| Shriram Transp | 1379.75 | 1496.10 | 7.78 |
Small-cap weekly top gainers and losers
| NSE Weekly Nifty Smallcap Top Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Bharat Dynamics | 811.75 | 721.45 | 12.52 |
| Metro Brands | 639.75 | 576.15 | 11.04 |
| Delta Corp | 198.15 | 178.50 | 11.01 |
| NSE Weekly Nifty Smallcap Top Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Tanla Platforms | 694.50 | 943.60 | 26.40 |
| Brightcom Group | 49.40 | 55.65 | 11.23 |
| VIP Inds | 603.65 | 664.60 | 9.17 |
Global stock market updates for the week (25 – 29 July)
On the global front, the US and European markets advanced while Japan and China’s stock market indexes ended in the red during the week.
The US and European stock market indexes
The US stock market indexes posted solid gains on a weekly basis even after the Fed rate hikes by 75 basis points and GDP contracted by 0.9% for the second quarter. Bad news has become good news for the US markets last week. Early week trading was subdued as Walmart lowers its profit projections, but later better than expected quarterly earnings from IT giants Amazon, Apple, and Google parent Alphabet lifted the market sentiments.
The Fed has hiked the rate as widely expected, but most important was its Chair Jerome Powell’s post-meeting press conference, as traders found it less hawkish this time. Investors are in hope that Fed could slow down or stop its rate hikes now due to the contraction in GDP numbers for the second consecutive quarter, boosting the market sentiments at the end of the week.
European stock market indexes gained during the week ended 29 July, as the data showed the eurozone economy expanded at a higher than expected rate of 0.7% in the second quarter. The market sentiments were also boosted by upbeat quarterly earnings and positive cues from the US markets.
However, the upside remained capped due to the early estimates of record-high inflation in the eurozone in July and Russia’s cut in gas supply. The IMF trimmed the eurozone economic growth to 2.6% in the current year from its previous projection of 2.8% in April and also lower its 2023 projection to 1.2% from 2.3%
Asian Stock Market Indexes
Japan’s stock market index Nikkei declined during the week, due to mixed domestic quarterly earnings releases and the government downgraded its estimates for Japan’s economic growth. The surge in covid cases in the region also remains a concern for investors.
China’s Shanghai index closed negative for the week. The sentiment was downbeat during the week as a high-level meeting of the ruling party called that it will strive to meet its 2022 growth target and gave no indication of a new stimulus. The IMF has lowered its full-year growth forecast to 3.3% from its earlier forecast of 4.4% and reduced its 2023 forecast by half a percent.
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