Stock Market Analysis for the Week (3-7 July 2023)

July 7, 2023 admin

Stock Market Analysis (3-7 July 2023):- Indian equity markets trimmed early week’s gain on Friday and ended higher for the second consecutive week. The equity benchmarks, Sensex and Nifty hit a record high during the week, with Sensex at 65898.98 and Nifty at 19523.60.

On a weekly basis, Sensex gained 0.87 percent and settled at the 65280.45 level while the Nifty was up 0.74 and closed at 19331.80. All sectoral indices ended in the green this week, led by Media, Nifty PSU Bank, Auto, and Realty.

The broader markets outperformed the benchmarks, as Nifty midcap and smallcap indexes gained 0.90 percent and 2.60 percent respectively. FIIs were the net buyers, they bought shares worth Rs 9164.85 crore in the cash segment this week, while DIIs offloaded shares worth Rs 6878.18 crore this week.

Top Nifty 50 Weekly Gainers and Losers

The top five Nifty 50 weekly gainers were Hero Motocorp (8.18%), M&M (7.61%), BPCL (7.39%), Bajaj Finance ( 6.45%), and Bajaj Finserve (5.69%).

The top Nifty 50 weekly losers were Eicher Motors (11.04%), UPL (3.57%), Tata Consumer (3.21%), Adani Ports (2.78%), and HCL Technology (2.55%)

Nifty Mid-Cap Weekly Gainers and Losers

The top five Nifty Mid-cap gainers were PNB(16.94%), ZEEL (16.24%), JSW Energy (12.43%), HPCL (11.72%), and Hind Zinc (10.82%)

The top losing stocks in the Nifty Mid-cap index were Astral (9.84%), Deepak Nitrate (5.12%), Bandhan Bank (4.88%), Biocon (4.35%), and Persistent System (3.62%)

Nifty Small-cap Weekly Gainers and Losers

The top Nifty Small-cap index weekly gainers were Suzlon Energy (16.67%), BSE (16.24%), MRPL (13.82%), Radico Khaitan (12.13%), and Bank of Maharashtra (10.73%).

The top weekly losers in the Nifty small-cap index were JK Lakshmi Cement (4.91%), Intellect Design (4.26%), Jubilant Ingrev (4.10%), Anupam Rasayan (3.61%), and Quess Corp (3.48%)

Indian Stock Market Analysis

The domestic equity markets started the week on a solid note reacting to the positive economic data. Indices shrugged off the mixed global cues and hit record highs during the week. Some cautiousness was seen on Wednesday, as the release of the US Fed’s minutes raised expectations of further rate hikes this year.

However, the domestic markets advanced on Thursday, as investors were encouraged by the FII’s buying spree and progress in the monsoon. Thursday’s strong economic data released in the US once again solidifies the expectation of the Fed’s monetary policy tightening and this hit the Asian markets on Friday. Indian equity benchmarks trimmed most of their gains on the last day of the week but ended in the green.

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