Indian Share Market weekly updates, Bank Nifty gained around 10% on a weekly basis

 

Weekly Analysis: Indian share market is trading six months high. Friday markets ended with a decent gain, Banking & financial sectors led the rally with a 3.9% gain. Nifty gained 276 points or 2.42%  and closed at 11647.60 while Sensex was up by 1032.59 points or 2.69% and closed at 39467.31. 

The Bank Nifty made a superb rally on Friday the last day of the week. Weekly basis it gained 2224.2 points or 9.97%  and closed at 24523.8 levels.

The Nifty midcap and smallcap index also made a decent gain last week. The midcap index gained 386.85 points or 2.28% and closed at 17369.05. The smallcap index of Nifty gained 207.85 points or 3.65% and closed at 5867.3.

Top gainers and losers

 

Weekly NSE Nifty50 Gainers
Company Name	LTP	Previous Close	Change (%)
IndusInd Bank	665.65	513.55	29.62
Tata Motors	142.80	120.90	18.11
Axis Bank	509.20	440.45	15.61
SBI	224.85	198.40	13.33
Zee Entertainment	213.85	192.05	11.35
Weekly NSE Nifty50 Losers
Company Name	LTP	Previous Close	Change (%)
Shree Cement	21329.55	22317.75	4.43
NTPC	101.55	105.95	4.15
Power Grid Corp	182.30	189.10	3.60
Ultratech Cement	4062.55	4187.80	2.99
Nestle India	16101.55	16561.95	2.78

 

Weekly NSE Nifty Midcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
India bulls Vent	214.90	180.15	19.29
Vodafone Idea	10.10	8.50	18.82
Weekly NSE Nifty Midcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
Aarti Industries	1086.70	1176.10	7.60
Natco Pharma	800.20	847.50	5.58
Weekly NSE Nifty Smallcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
Blue Star	689.95	554.90	24.34
Welspun India	57.30	49.10	16.70
Weekly NSE Nifty Smallcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
Himadri Speciality	55.70	60.55	8.01
Hindustan Copper	37.95	39.95	5.01

 

Derivative markets updates

Last Monday the 27th Aug Nifty index futures opened at 11410.05 last Monday. It has touched weekly high at 11608.10 on Thursday and low at 11410 on Monday. The 27th Aug Nifty index futures has given an upward movement of 198.05 points till expiry. 

The 27 Aug Bank Nifty index futures opened at 22327.25 levels on last Monday. It has touched weekly high at 23716.15 on Thursday and low at 22327.20 on Monday. The 27th Aug Bank Nifty index futures has given an upward movement of 1388.95 points till monthly expiry.

The September series started with a positive note on Friday. On the first of the series, Nifty index futures made a gained 105.95 points and closed at 11686. The 24th Sept.Bank Nifty index future has gained 1013.95 points and closed at 24615.95

 

News that influenced the Indian share market on 28th Aug end week

 

Indian share market gained on 28th Aug end week was due to positive global cues. In the domestic front, news of the above-average monsoon in August and normal rainfall during the season by IMD was positive for the market. 

The news of Stamp Duty reduction on housing unit from 5% to 2% till 31st Dec and 3% till 31st March 2021 boosted the Real Estate sectors.

Some positive sentiments also added after PM Modi announced 74% in Foreign Direct Investment (FDI) through automatic mode.

On the global front, the US markets indices S&P 500, and Nasdaq touched a record high during the week. The positive sentiments added in the global market after the Fed Reserve has made a new inflation policy framework. There was also a slight improvement in the new claims of jobless benefit in the US as per the data announced last Thursday.

The news from China was all good, China has agreed to push forward the implementation of the bilateral Phase 1 trade deal signed earlier by US-China in January. The Central Bank of China has injected $28.94 billion into the banking system and its industrial profit grew by 19.6 on YoY basis.

Indian share market gained based on all the above positive news both in domestic as well as the global front. Other than this investors worldwide cheered optimism about the potential treatment for coronavirus and improvement in business pick up.

FIIs and DIIs movement:

The FIIs buying helped the Indian share market to trade higher this week.  FIIs were the buyers and DIIs were the seller in the cash segment on the week ended 28th Aug. FIIs bought Rs 5450.01 cr whereas DIIs sold Rs 3056.06 cr during the week.

 

Conclusions:

The Indian share market has made a decent gain in the current week. The Nifty is gradually moving towards 12000 again. To know more about next week’s, events, trading tips read our “Key factors that will move market next week” report tomorrow.

 

You may also interested to read, Nifty closed above 11600, Bank Nifty gained 923 pts today

Algo Trading Definition: Pros and Cons of Algorithmic trading

Happy weekend!!

Editor’s Desk