Stock Market Analysis: Third Consecutive Week of Remarkable Gains

July 14, 2023July 14, 2023 admin

Stock Market Analysis (10-14 July 2023): Indian equity benchmarks ended higher for the third consecutive week. The markets gained four out of five trading sessions during the week. The equity benchmarks, Sensex and Nifty hit new record highs on Friday at 66159.79 and 19595.35 levels. On a weekly basis, Sensex and Nifty rose 1.20 percent each.

Among the sectors, IT gained the most, up 4.69 percent followed by Media and Metal while Nifty PSU Bank and Nifty Bank indexes declined during the week. The broader markets also gained in line with their larger peers, as Nifty mid and small-cap indexes gained 1.25 percent and 1.85 percent respectively.

FIIs were the net buyers in the Indian equity cash segment during the week, they bought shares worth Rs 5417.78 crore while DII were the net sellers, they offloaded shares worth Rs 1251.29 crore.

Top Nifty 50 Weekly Gainers and Losers

The top five Nifty 50 weekly gainers were Infosys (7.20%), TechM (6.28%), Hindalco (5.74%), TCS ( 5.57%), and Eicher Motors (5.10%).

The top Nifty 50 weekly losers were Power Grid (6.03%), UPL (3.54%), BPCL (3.09%), Titan (2.81%), and NTPC (2.67%)

Nifty Mid-Cap Weekly Gainers and Losers

The top five Nifty Mid-cap gainers were Polycab(10.44%), Emphasis (10.23%), Gland Pharma (8.66%), Escorts Kubota (7.40%), and Piramal Enterprise (7.40%)

The top losing stocks in the Nifty Mid-cap index were HPCL (6.06%), Deepak Nitrate (5.75%), Jubilant Food (4.57%), Federal Bank (4.33%), and Dalmia Bharat (4.22%)

Nifty Small-cap Weekly Gainers and Losers

The top Nifty Small-cap index weekly gainers were Mazgaon Dock(23.91%), Tejas Network (21.05%), RBL Bank (14.56%), Kalyan Jewellers (12.37%), and J B Chemical (11.92%).

The top weekly losers in the Nifty small-cap index were Brightcom Group (14.08%), IRB infra (4.17%), HFCL (3.90%), Karur Vysya Bank (3.84%), and Balaji Amines (3.67%)

Indian Stock Market Analysis

The domestic markets started the week on a slightly positive note. On Wednesday, Indian markets closed marginally lower, as traders remain cautious ahead of the domestic as well as US inflation data.

The Indian CPI inflation rate came slightly higher than the market expectation on Wednesday, while US inflation came cooler than expected. However, Indian IIP data showed some growth compared to the previous month. On Thursday, the Indian equity indices opened higher tracking positive global sentiments but trimmed most of their early gains in the last hour.

On Friday, markets opened a gap-up due to a rally in the US tech shares, as the US producer price index fell more than expected. This boosted sentiments in the global markets, Indian IT index also gained over 3% on Friday and supported the benchmarks to hit a new high. The strong economic data from the US, Quarterly earnings, FII inflow, and good progress in the monsoon supported the Indian markets to hit new highs during the week.

If you like the post “Stock Market Analysis: Third Consecutive Week of Remarkable Gains“ please share it with others.

Best Options Trading Books in India-Must Read 2022

Happy Investing!!

Editor’s Desk