Indian Stock Market Weekly News & Updates
DurWeekly Market Updates: Indian Stock Market closed lower, Global market recap
Weekly Market Updates: Indian markets closed lower on a weekly basis amid negative global cues. The Nifty declined by 287.95 points or 2.4% and at 11642.4 levels while Sensex closed lower by 1071.43 points or 2.71% and ended at 39614.07 on the week ended 30 October. The Bank Nifty also closed in the red during the week, it fell 577.4 points or 2.42% and at 23900.9 levels.
The Nifty midcap and smallcap 100 indices closed in the red during the week. The Nifty midcap index declined 239.7 points or 1.41% and at 17066.5. The smallcap index closed lower by 175.05 points or 3.02% and at 5819.05 levels.
Nifty weekly gainers and Losers
| Weekly NSE Nifty Top Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Kotak Mahindra Bank | 1547.40 | 1383.05 | 11.88 |
| Nestle | 17161.60 | 15865.45 | 8.17 |
| Shree Cement | 21694.55 | 20521.15 | 5.72 |
| HDFC Life | 589.75 | 564.50 | 4.47 |
| Asian Paints | 2211.50 | 2120.25 | 4.30 |
| Weekly NSE Nifty Top Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Hero Motocorp | 2799.80 | 3111.05 | 10.00 |
| SBI | 189.25 | 202.80 | 6.68 |
| HDFC | 1923.55 | 2059.70 | 6.61 |
| Hindalco | 170.65 | 182.25 | 6.36 |
| Bajaj Auto | 2886.90 | 3082.25 | 6.34 |
Nifty midcap and smallcap gainers and losers
| Weekly NSE Nifty Midcap 100 Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Adani Gas | 220.50 | 196.35 | 12.30 |
| Cholamand Inv Fin | 273.25 | 251.50 | 8.65 |
| Weekly NSE Nifty Midcap 100 Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Dhani Service | 196.75 | 222.20 | 11.45 |
| Federal Bank | 50.45 | 56.00 | 9.91 |
| Weekly NSE Nifty Smallcap 100 Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Just Dial | 652.30 | 584.05 | 11.69 |
| Thyrocare Tech | 1148.70 | 1059.00 | 8.47 |
| Weekly NSE Nifty Smallcap 100 Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Sonata Software | 316.95 | 369.15 | 14.14 |
| PVR | 1068.50 | 1181.40 | 9.56 |
Indian Stock Market weekly news and updates
Indian market started the week ended 30 October on a flat note even after the news in the surge of foreign exchange reserve on the week ended 16 October. The market sentiment was negative on Monday after RBI governor Saktikanta Das’s statement that the second wave of coronavirus cut put sand in the wheels of a nascent recovery and the repo rate would depend on inflation which is above RBI’s tolerance level.
On Tuesday, the market was positive on the news of the new stimulus package and Morgan Stanley Capital Investment (MSCI) news to increase the limits for Indian stocks. The market opened positive on Wednesday but closed in negative after UNTAD said that global FDI flows fell 49% in the first half of 2020 compared to the previous year.
The Indian stock market closed lower on Thursday due to negative global cues. CRISIL’s statement that speedy recovery witnessed in India was overlooked by the traders
Indian markets opened flat on Friday after the news of a 0.8% contraction in eight code industries output data in September. The market sentiments got more negative as the government’s fiscal deficit rose about 114.8% of the annual budget in the first six months. World Bank’s statement that the remittance to India would fall this year added further pessimism in the market.
Global Market weekly updates and news
The US markets suffered the worst weekly losses after March during the week ended 30 October. The resurgence of coronavirus cases, uncertainty about the Presidential election, and stimulus aid weighed on market sentiments. The positive GDP data and jobless claim data in the U.S surprised the market and capped the downside Thursday.
The European market fell the most during the week since March. The increase in coronavirus cases and fears of lockdown worried the investors for further economic fall. The European Central Bank has left the policy unchanged but signaled more stimulus to come in December if required.
Japanese market declined on the week ended 30 October. The disappointment of quarterly earnings and an increase in coronavirus cases in the US and Europe weighed on sentiments. The Central Bank of Japan has said that the recovery in demand may take a longer period than it forecasted in July. The Chinese market also declined during the week due to the negative global market cues.
FIIs and DIIs cash market investment updates:
During the week ended 30 October, FIIs were the buyer and DIIs were the seller in the cash market. FIIs bought Rs 972.66 crores whereas DIIs sold Rs 2170.70 crores in the cash market segment during the week ended 30 October.
Conclusions
Indian markets closed lower due to negative global market cues. Due to the absence of any major domestic trigger markets traded on the global market cues during the week. Next week the U.S presidential election and coronavirus news will decide the market direction.
Traders can read the “key factors that may influence the Nifty and Bank Nifty next week” report tomorrow.
You may also like to read, Stock Market indices closed in red, here’s the top reason
Happy weekend !!
Editor’s Desk
