Indian market last week: Nifty, Bank Nifty for next week
Indian market last week: Nifty, Bank Nifty technical levels for next week
Indian market last week Nifty & Bank Nifty: Indian stock market bounced back in the truncated week. The benchmark indices closed in the green zone with the support of positive global and domestic cues. The traders have ignored the negative reports from the rating agencies and the US and China tension in the last week.
Stock market news last week
The Indian government has notified that Rs 3 lakh crore Emergency Credit Line Guarantee Scheme for Medium, Small and Micro Enterprises (MSMEs) under the Atma Nirbhar Bharat Abhiyan. The intention of this move is to help MSMEs to overcome the economic distress that they are facing due to the coronavirus pandemic.
The domestic rating agency CRISIL has forecasted that the growth of the Indian economy to contract 5% in FY21. The non-agricultural sector to contract 6% in FY21, however, agriculture is expected to provide some support due to normal monsoon this year.
The global rating agency S&P has also forecasted that the Indian economy will contract 5% in the current fiscal. The rating agency has also stated that the stimulus package announced by the Indian government is low as compared to other countries with similar impacts from the coronavirus pandemic.
Stock market indices news last week
On a weekly basis, the Nifty gained 541.05 points or 6.01% while Sensex was up by 1751.51 points or 5.72%. The private sector banks gained the most in last week and it lifted the Bank Nifty by 2018.35 points or 11.67% and closed at 19297.25 levels.
The Nifty midcap and smallcap indices have also made a decent gain in the last week. The Nifty midcap 100 was up by 604.95 points or 4.76% and closed at 13273 levels. The smallcap 100 index was gained by 151.95 or 3.90% and closed at 4002.8 levels.
Nifty gainers and losers
| Weekly Nifty50 Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Eicher Motors | 16548.45 | 13922.4 | 18.86 |
| IndusInd Bank | 393.65 | 338.35 | 16.34 |
| Larsen & Toubro | 932.25 | 815.7 | 14.29 |
| Axis Bank | 384.95 | 336.95 | 14.25 |
| ICICI Bank | 331.95 | 291.05 | 14.05 |
| Weekly Nifty50 Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Bharti Airtel | 552.6 | 593.2 | 6.84 |
| TCS | 1972.35 | 2020.35 | 2.38 |
| Infosys | 691 | 692.35 | 0.19 |
Nifty midcap & smallcap gainers and losers
| Weekly Nifty Midcap 100 Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Jindal Steel | 121.55 | 96.60 | 25.83 |
| Godrej Ind | 318.65 | 256.15 | 24.40 |
| Weekly Nifty Midcap 100 Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Alkem Lab | 2262.9 | 2497.9 | 9.41 |
| Torrent Pharma | 2362.55 | 2601 | 9.17 |
| Weekly Nifty Smallcap 100 Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Eid Parry | 195.75 | 155.2 | 26.13 |
| Multi Commodity Ex | 1328.05 | 1130.7 | 17.45 |
| Weekly Nifty Smallcap 100 Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Himadri Speciality | 43.9 | 47.15 | 6.89 |
| Chambal Fertiliser | 129.8 | 139.2 | 6.75 |
Market watch-Stocks in news last week
Deepak fertilizers forays into hand sanitizer segment
JSW steel ramps up capacity utilization to 85% in May
JK Tyre crosses 2 crore units production milestone of trucks, bus radial tyers
PFC to fund projects worths Rs 22000 crore in Madhya Pradesh
Vedanta seeks shareholders nod for delisting, e-voting till June 24th
Adani Power gets nod to set up 1320 MW plant in Madhya Pradesh
Abu Dhabi state fund in talks to invest $1 billion in Jio Platforms
ITC patterns with Amway India to sell new immunity beverages
NTPC looks to buy out Anil Ambani’s ADAG distribution units in Delhi
There is a loss of Rs 119.43 cr in NHPC power generation due to lockdown
To push 5G technology, HCL Technology has decided to acquire Cisco’s network
Key factors that will influence the stock market next week
Macro Data
The economic growth slows to 11years low as per the GDP data announced last Friday. As per the announcement, the GDP number for the last quarter of FY2019-20 fell to 3.1%. For the full year 2019-20, the Indian economy grew by 4.2% as compared to 6.1% in 2018-19. Indian market may react to the data negatively on Monday.
The macro data that are going to impact the Indian stock market next week are
| Macro Data Next Week | |
| 01-June | Manufacturing PMI |
| 03-June | Service PMI |
| 05-June | Foreign Exchange Reserve |
Global cues
The global cues will impact the market most. Traders should always check the global market and indication of SGX Nifty in the morning for trading. Apart from coronavirus updates and its impact on economic growth, the US and China tension would be the key concern next week in the market.
Traders should also keep updated about the coronavirus vaccine-related news and updates.
Q4 Earnings
HDFC Ltd
HDFC Ltd has reported Q4 earnings on last Monday, its net profit drops 21.97% on YoY basis at Rs 2233 crores as compared to Rs 2862 crore in the same period last year. The company’s profit fell as the dividend income received during the quarter was only Rs 2 crore as compared to Rs 537 crores in the same quarter last year.
The Net Interest Income (NII) for the quarter rose 17% to Rs 3780 crore as compared with Rs 3238 crore in the same period last year. The company’s Individual gross NPA’s came at 0.70% while non-individual NPA stood at 2.34%. Last year GNPA for the same quarter was 1.18%.
Though the share price of HDFC corrected after the Q4 earnings, it has recovered and gained sharply on the next day.
Sun Pharma
Sun Pharma has reported a 41.3% growth in profit at Rs 3764.93 crore and 13% increase in revenue at Rs 32837.5 crore compared to the last year. The company reported a consolidated profit of Rs 399.8 crore for the march end quarter declining 37.1% YoY due to a one-time loss of Rs 260.6 crore.
The share price of Sun Pharma reacted positively after the Q4 earnings last week.
The Q4 earning of Nifty50 stocks for the next week which can influence the Indian market are
| Q4 Earning dates for Nifty50 Stocks | |
| 02 June | Britannia |
| 03-June | BPCL |
| 05-June | L&T |
| 05-June | SBI |
Auto Sales data
Since last week we have seen in the news that many auto companies have started their plants in various parts of India. According to the CRISIL research automobile industry to see a double-digit sales decline in FY21.
The auto sales numbers of May will come on 1st June next week, the sales may slip to 10 years low amid weak sentiments. It will have a negative impact on the sector as well as the Nifty index in the next week.
FIIs/FPI and DIIs move
The full credit of the positive Indian stock market goes to FIIs and DIIs last week. Both the FIIs and DIIs were buyers in the cash segment last week. The FIIs bought Rs 8196.24 crores whereas the DIIs bought Rs 6363.2 crores in the cash segment last week.
The Indian stock market will continue to move towards northwards if the FIIs and DIIs continue their buying spree.
Technical levels of Nifty & Bank Nifty
Nifty technical analysis in Futures
Primary Trend of Nifty Futures next week: Mild Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 9720 whereas All Down Moves Initiates Short Covering (Buy) @ 9350
If Nifty futures share price Moves Above 9510 and sustain. Then you should Buy with 1st Target of 9560 during the day or week with a Stop Loss of 9440 FOR the Target of 9560- 9600- 9640- 9725
If Nifty futures share price Moves Below 9440 and sustain. Then you should Sell with the 1st Target of 9390 during the day or week with a Stop Loss of 9510. FOR the Target of 9390- 9350- 9310- 9240
Technical analysis of Bank Nifty share price in Futures
Primary Trend of Bank Nifty future for next week: Mild positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 19750, whereas All Down Moves Initiates Short Covering (Buy) @ 18600
Bank Nifty share price future Moves Above 19120 and sustain. Then you should Buy with 1st Target of 19250 during the day or week with a Stop Loss of 18950. FOR the Target of 19250 – 19370- 19480- 19750
If Bank Nifty share price future Moves Below 18950 and sustained. Then you should Sell with 1st Target of 18840 during the day or week with a Stop Loss of 19120. FOR the Target of 18840 – 18735- 18580-18430
Crude Oil
The crude oil prices gained in the last week. The WTI has gained nearly 90% in the month of May and settles above $35 per barrel and registered the best month on record. The gain in crude oil is due to heavy production cut and an increase in demand after easing lockdown worldwide. The jump in crude oil prices was seen last Friday on the hopes that the US-China trade deal would remain intact.
Last week the WTI crude gained 6.7%, it has touched high at 35.77$ and low at $31.14 per barrel. The Brent crude oil has also gained 0.57% last week and touched high at $37.74 and low at $33.62. The global equity market will become positive if there is a rise in crude oil prices whereas it is negative for the domestic equity market.
Conclusions:
Other than the above factors, the arrival of monsoon will play an important role in the next week for the Indian market. The Skymet has announced the arrival of monsoon over Kerala on Saturday. India VIX has come down to 30 so traders should be cautious next it may rebound at any time. Traders should trade with strict stop loss and avoid taking any overnight position in Nifty and Bank Nifty for the next week.
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