Indian Stock Market Weekly Analysis Report (30 Oct – 3 Nov 2023)

November 3, 2023 admin

Indian stock market snapped a two-week losing streak and ended higher. The domestic markets gained three out of five trading sessions this week. Sensex was up 580.98 points or 0.91% and closed at 64363.78, while Nifty gained 183.35 points or 0.96% and settled at 19230.60 level this week.

Barring the Nifty Auto index, all other sectoral indices closed in the green, with Realty, Media, and Energy gaining the most. The broader markets outperformed the benchmarks, as Nifty mid and smallcap indexes gained 2.29% and 2.58% respectively.

Foreign investors were net sellers during the week, they offloaded shares worth Rs 5522.38 crore in the equity cash segment. Domestic Institutional Investors were the net buyers they bought shares worth Rs 3540.27 crore this week.

Indian Stock Market Weekly Summary

Indian equity markets started the week positively on Monday amid support from Asian and European markets. The key indices snapped a two-day winning streak on Tuesday and ended lower. Investors remained cautious ahead of the US Fed monetary policy outcome and booked profits at higher levels.

Indian markets closed lower on Wednesday for the second consecutive day despite positive global cues. Investors stayed sidelined ahead of the US Fed interest rate decision. The market sentiments were also downbeat as India’s manufacturing PMI data came at an 8-month low.

Indian equity markets snapped a two-day losing streak and closed on a strong note on Thursday. The market sentiments were upbeat, as the US Fed kept the interest rate unchanged and hinted that the central bank had done its aggressive policy tightening cycle.

Indian markets gained consecutive for the second day on Friday amid positive global cues, however, the upside remained capped as India’s services PMI came lower since March. The global sentiments were positive, as the US markets rallied due to a sharp fall in Treasury yield after the Fed’s dovish comments on Wednesday.

Weekly Gainers and Losers

The top five Nifty 50 weekly gainers were BPCL (7.93%), Apollo Hospital (6.69%), Titan (4.93%) Hindalco (4.18% ), Ultratech Cement (3.81%)

The top Nifty 50 weekly losers were M&M (2.77%), Maruti Suzuki (2.69%), Dr. Reddy (2.49%), Tata Steel (2.17%), and Bajaj Finserve (1.93%)

The Nifty Mid-Cap top weekly gainers were Vodafone (7.42%), Macroteck Devel (5.52%), Oberoi Realty (4.89%), Indus Tower (4.86%), and Godrej Properties (4.85%)

The top losing stocks in the Nifty Mid-cap index were Petronet LNG (10.99%), M&M Fin (6.87%), Mazgaon Dock (6.49%), APL Apollo Tube (4.96%), and Motherson Sumi (4.74%).

The Nifty Small-cap top index weekly gainers were CDSL (17.59%), Trevini Turbine (16.31%), MCX (13.47%), Piramal Pharma (13.14%), and BLS International (12.62%).

The top weekly losers in the Nifty small-cap index were Natco Pharma (7.70%), Indiamart (6.52%), Aavas Financier (5.78%), IDFC (5.67%), and Aegies Logistics (5.49%).

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