Indian Stock Market Analysis for the Week (25- 29 Sept 2023)
Stock Market Analysis for the Week (25-29 Sept 2023): Indian equity benchmarks ended lower for the second consecutive week. On a weekly basis, Sensex declined to 180.74 points or 0.27% and closed at 65828.41 levels, while Nifty was down 35.95 points or 0.18% and settled at 19638.30 levels. The domestic markets gained three out of five trading sessions during the week.
The broader markets outperformed the benchmarks this week, as the Mid and Smallcap indexes ended higher by 0.99 percent and 2.18 percent respectively. Among the sectors, Nifty Realty, Pharma, and Metal sectors were advanced while IT, Media, and Auto were under pressure. IT fell the most, down by 3.41 percent this week.
Foreign investors were the net sellers this week, they offloaded shares worth Rs 8430.77 crore, while DII’s were the net buyers, they bought shares worth Rs 8143.28 crore.
Indian Stock Market Analysis.
Indian stock market started the week on a positive note. On Monday, benchmark indices snapped a four-day losing streak and ended just above their flat line despite weak global cues. The markets traded sideways on Tuesday due to unfavorable global cues and ended just below their flat line.
On Wednesday, Indian markets opened lower following a selloff in the US markets due to higher Treasury yields and crude oil prices. However, markets turned positive in the second half after getting support from Asian and European peers. On Thursday, markets witnessed a heavy selloff in the second half due to the monthly F&O expiry.
On Friday, Indian stock markets opened higher following positive cues from the global markets due to ease in US Treasury yields and crude oil prices. The last-hour profit booking at the higher level trimmed the benchmark indices slightly but closed on a strong note.
Top Nifty 50 Weekly Gainers and Losers
The top five Nifty 50 weekly gainers were Bajaj Finance (4.54%), Coal India (4.18%), ONGC (3.65%), L&T ( 3.60%), and NTPC (3.19%).
The top Nifty 50 weekly losers were Tech M (6.32%), Infosys (4.06%), LTIM(4.01%), Titan (3.84%), and Asian Paints (3.47%)
Nifty Mid-Cap Weekly Gainers and Losers
The top five Nifty Mid-cap gainers were Dixon Technology (10%), Mcrotec Devel (8.01%), Dr. Lal Path Labs (7.90%), Oil India (9.60%), and KPIT Technology (7.32%)
The top losing stocks in the Nifty Mid-cap index were Navin Fluorine (15.72%), Tube Investment (6.62%), Mphasis (4.40%), AU Small Finance (4.17%), and Delhivery (4.08%)
Nifty Small-cap Weekly Gainers and Losers
The top Nifty Small-cap index weekly gainers were MCX (14.92%), BSE (8.49%), RBL Bank (8.48%), Cochin Shipyard (8.29%), and JB Pharma and Chem (7.58%).
The top weekly losers in the Nifty small-cap index were BLS International (5.57%), Easy Trip Planner (5.15%), Happiest Minds (4.04%), JBM Auto (3.95%), and Indiamart (3.84%).
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