Weekly Market Update: Nifty & Bank Nifty share price
Weekly market updates: Nifty and Bank Nifty share price gained above 1%
Weekly Updates: Nifty and Bank Nifty share price: Indian market gained more than 1% last week. Nifty gained 138.6 points or 1.36% and closed at 10383 levels while Sensex was up 439.54 points or 1.27% and closed at 35171.27. The Bank Nifty was volatile during the week, it gained 253.95 points or 1.19% and closed at 21592.05.
The Nifty midcap and smallcap 100 indices outperform large-cap last week. Nifty midcap was up by 409.40 points or 2.84% and closed at 14975.25 levels. Whereas, the Nifty smallcap added another 131.6 points or 2.86% in June 26th end week and closed at 4708.35.
Last week, the market ignored negative news like the surge of coronavirus cases both in India and the US and IMF’s prediction of contraction in India and global economic growth. The positive news of Glenmark’s drug approval from the DCGI has made little influence on the Indian market other than global cues.
Top Gainers and Losers in Nifty50 index
Weekly Nifty50 Gainers | |||
Company Name | LTP | Previous Close | Change (%) |
Hero Motor Corp | 2540.45 | 2355.85 | 7.84 |
Bajaj Finance | 2903.50 | 2698.60 | 7.59 |
Bajaj Auto | 2867.60 | 2674.35 | 7.23 |
Larsen & Toubro | 962.20 | 898.20 | 7.13 |
Eicher Motors | 18473.40 | 17349.35 | 6.48 |
Weekly Nifty50 Losers | |||
Company Name | LTP | Previous Close | Change (%) |
ICICI Bank | 349.10 | 363.80 | 4.04 |
HDFC | 1769.35 | 1835.10 | 3.58 |
Maruti Suzuki | 5754.90 | 5897.35 | 2.42 |
Bharti Airtel | 560.40 | 572.50 | 2.11 |
ONGC | 84.15 | 85.75 | 1.87 |
Top gainers and Losers in Nifty Midcap and Smallcap 100
Weekly Nifty Midcap 100 Gainers | |||
Company Name | LTP | Previous Close | Change (%) |
Future Retail | 142.40 | 111.65 | 27.54 |
IDBI Bank | 40.00 | 31.75 | 25.98 |
Weekly Nifty Midcap 100 Losers | |||
Company Name | LTP | Previous Close | Change (%) |
Oil India | 94.45 | 105.25 | 10.26 |
Varun Beverages | 681.80 | 731.95 | 6.65 |
Weekly Nifty Smallcap 100 Gainers | |||
Company Name | LTP | Previous Close | Change (%) |
Karur Vysya Bank | 36.60 | 27.10 | 35.06 |
IRB Infra Dev | 90.10 | 71.00 | 26.90 |
Weekly Nifty Smallcap 100 Losers | |||
Company Name | LTP | Previous Close | Change (%) |
Kaveri Seeds Co | 563.55 | 597.05 | 5.61 |
TV18 Broadcast | 35.50 | 37.55 | 5.46 |
Key factors that will influence the market next week
Q4 Results
Power Grid Corp-
The Power Grid Corp. has reported better than expected performance for the Q4FY20 quarter. The company’s consolidated net profit rose by 10.2% to Rs 11059.40 crore in the fiscal year ended 31st March 2020 as compared to Rs 10,033.52 crores in last year FY19. The Net sales rose by 7.66% to Rs 37,743.54 crores.
The growth was driven by its mainstay transmission business. The share price of Power Grid Corp gained 2% after the Q4 results.
GAIL-
GAIL reported 215.92% YoY growth in their consolidated net profit at Rs 4813.88 crores for the 31st March-end quarter. The company had reported Rs 1523.73 crore in the same period last year. The consolidated revenue of the company declined 5.97% YoY to Rs 17938.08 crores in Q4FY20
The company has received a tax credit of Rs 1215.18 crores during the quarter under review. The share price of GAIL gained 3.78% after the announcement of the Q4 results.
ITC-
The ITC reported a 9.05% drop in standalone net profit for the march end quarter at Rs 3797.08 crores. The company has reported its net profit of Rs 3797.08 crores for March-end quarters compared to Rs 3481.90 in the same period last year.
The company’s revenue from operation dropped 6.4% to Rs 11,420.04 crores from Rs 12206.03 crores in the same period last year. Its EBITDA declined by 8.9% but margin increased by 30 bps. The Q4 result was announced after market hours on Friday. It has missed the street’s estimate and the market will react to this stock on Monday.
Coal India-
Coal India posted its Q4 results on Friday after the market. It has reported 23.24% YoY fall in consolidated net profit at Rs 4625.76 crores compared to Rs 6026.47 last year in the same period. The consolidated revenue of Coal India declined by 3.55% on YoY to Rs 27568.23 crores as compared to Rs 28585 crores in the last year of the same period. EBITDA has also declined by 18.3% compared to last year’s same period.
It missed the street estimates, the share price of Coal India may react negatively on Monday.
The Q4 results for the next week are:
Q4 Results dates for Nifty50 Stocks | |
27th June | NTPC |
29th June | Tata Steel |
30th June | ONGC |
You may also like to read, 10 Best Stock Market books to Make Money
FIIs and DIIs movement:
Last week FIIs were the buyers and DIIs were the sellers in the cash market. FIIs bought Rs 556.98 crores whereas the DIIs sold Rs 1309.52 crores. In the month of June so far FIIs bought Rs 9430.09 and DIIs sold only Rs 653.04 crores.
For the last two days, FIIs were the sellers selling around Rs 1800 crores in the cash market. It can be a concern for the market in the next week. So traders need to monitor closely the FIIs movement in the cash segment.
Auto Sales
The Auto sales data for the month of June is expected on the 1st of July next week. In the month of June, due to the relaxation in lockdown, we have seen most of the auto plants have restarted their plants. Many auto companies tied up with financial companies for providing easy loans to increase sales.
The auto sales figure would be negative compared to last year’s same period due to lockdown. But we may see a positive movement in the auto stock if there is any development compared to the previous month which is quite possible. So traders can check out the auto sales numbers if having any interest in auto sectors.
Coronavirus
The rising coronavirus cases in India is the concern, India has crossed the half a mission mark and stands in fourth place in the global tally. Even globally the US, China, Germany, and some other countries have witnessed the resurgence of coronavirus cases.
Some states like West Bengal, Jharkhand, Assam in India have reimposed the lockdown. If the whole country reimposes the lockdown then there would be again economic loss. The concern of rising coronavirus cases can make the market nervous and volatile next week.
Global cues:
Investors should keep a close eye and follow the global cues and geopolitical tensions between US-China and India-China to get the market direction. The geopolitical issues that created the market nervous and volatile a few weeks back are quite now. But we would advise traders to stay cautious and focus more on quality stocks.
However, hopes of continued fiscal stimulus remain alive across the globe. The central bank all over the world has infused liquidity in order to support its economy. In the second wave of coronavirus, we may see such kind of stimulus support again and that can be positive for the market.
Macro data
Investors or traders should stay cautious ahead of macro data that are going to announce next week. The Markit PMI for Manufacturing and Service data for June would be released on the 1st and 3rd of July respectively during the market hours. Traders are advised to be cautious these days.
The macro data to be announced next week are
Macro Data Next Week | |
30th June | Infrastructure Output Data |
30th June | Q1 Current Account Data |
1st July | Manufacturing PMI Data |
03rd July | Foreign Exchange Reserve |
03rd July | Service PMI Data |
Technical Levels of Nifty and Bank Nifty share price
Nifty technical analysis in Futures
Primary Trend of Nifty Futures next week: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 10410 whereas All Down Moves Initiates Short Covering (Buy) @ 10130
If Nifty futures share price Moves Above 10385 and sustain. Then you should Buy with 1st Target of 10412 during the day or week with a Stop Loss of 10280 FOR the Target of 10412- 10445- 10475- 10532
If Nifty futures share price Moves Below 10280 and sustain. Then you should Sell with 1st Target of 10250 during the day or week with a Stop Loss of 10385. FOR the Target of 10250- 10180- 10130-10070
Technical analysis of Bank Nifty share price in Futures
Primary Trend of Bank Nifty future for next week: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 21750, whereas All Down Moves Initiates Short Covering (Buy) @ 20650
Bank Nifty share price future Moves Above 21650 and sustain. Then you should Buy with the 1st Target of 21775 during the day with a Stop Loss of 21350. FOR the Target of 21775 – 21895- 22021- 22290
If Bank Nifty share price future Moves Below 21350 and sustained. Then you should Sell with the 1st Target of 21225 during the day with a Stop Loss of 21395. FOR the Target of 21225 – 21060- 20920-20640
Conclusions
In the next week, the market will react to the above factors. As there is no major trigger at present, the Indian market will trade as per the global cues. You can daily visit our website for Live Market Nifty and Bank Nifty recommendations, Market Updates, and more.
You can also read, Your Stock Broker will never say these Hidden Charges.
Share/ Stock Market Live for 26th June
Algo Trading Definition: Pros and Cons of Algorithmic trading
If you like the post please share with your friends and others
Happy Investing!!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and not that of the website or its management. Nifty50Stocks.com is not SEBI registered Advisors and advises its users to check with certified and SEBI registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.