Weekly stock market: Sensex and Nifty closed flat ahead of expiry week, now what next?

 

Stock market updates Sensex &Nifty: The week closed in a flat note for the Indian stock market. The market traded in a tight range from Monday to Friday. In the end, last Friday the benchmark indices Sensex, Nifty and Bank Nifty closed in the red. 

This is due to investors are worried about the delay in the US-China trade deal. The trade deal was supposed to be done mid of November as per earlier reports.

On a weekly basis in the Indian stock market Sensex gained just 2.72 points and closed at 40359.41 while Nifty was up 18.95 points and closed at 11914.40. The NSE banking index Bank Nifty gained 102.66 points during the week and closed at 31111.60 on the spot basis.

The Nifty midcap and smallcap index actually performed better than the large-cap last week. The midcap index gained 63.8 points and closed at 16867.6 whereas the Nifty smallcap index was up 26.4 points and closed at 5701.65 in the last week. 

Weekly Stock Market: Sensex & Nifty gainers and losers

Among the sectors in NSE, Telecom, Oil & Gas, Media, Metals, and Healthcare are the gainers. The sectors which closed in red are Manufacturing, Insurance, Capital Goods and Auto in the last week.

The top five stock market Sensex gainers are Sun Pharma, Bharti Airtel, IndusInd Bank, Power Grid Corp, and Reliance Industries. The top losers in the Sensex stocks are M&M, Yes Bank, Tata Motors-DVR, TCS and Asian Paints.

The FIIs were the net buyers in the cash segment last week, FIIs bought Rs 4709.75 crores. Whereas DIIs were also the net buyer in the last week, they bought Rs 330.10 crores.

 

Stock market news which moved Sensex and Nifty last week

Central Bank of China has cut the interbank lending rate on last Monday after the year 2015. The central Bank of China lowered its Loan Prime Rate (LPR) to boost the economy by 5 bps to 4.15% from 4.20%. The news helped the Asian market to close in green.

The PSU stocks remained in the highlight last week due to the news of disinvestment. After the in-principal approval for the disinvestment by the government, the stocks like CONCOR, BPCL, BEML were trading higher last week. 

You may also like to read, PSU Bank Merger: Know which stocks to buy now

Finance Minister had announced two years moratorium on the spectrum dues from telecom companies. Telecom companies got relief last week after the news and Telecom share like Bharti Airtel, Vodafone Idea and  Reliance (Jio) stocks were the gainers

Though the Indian stock market closed flat in the last week, Sensex hits a new high 40816 on 20th Nov last week. Indian Stock Market may be volatile ahead of monthly derivative expiry.

 

Next week Indian Stock Market; Sensex, Nifty & Bank Nifty

The main event for the market next week is Monthly Derivative Expiry. The Nifty futures in Nov Series closed flat on 22nd Nov last Friday while the Bank Nifty future was up 1007 points. 

Another event for the next week is India Infrastructure output data and Q2 GDP data after the market hours on Friday 29th Nov. There is an expectation of further deterioration of the Q2GDP growth of India. And this time it is expected to come even much below 5% GDP growth. 

It is probable that the earlier forecasted growth of 6.1% for FY20 would be downgraded further. This could be the negative news for the market, and its reaction can be seen in the month of December only.

On the global front, investors need to follow up on the development of the US-China trade deal. It was supposed to sign the phase one trade agreement in the mid of November. As per the report on 22nd, US President Donald Trump said that the trade deal with China is very close.

If the agreement signed, then both the global and domestic markets will take it positively. And if it gets delayed or postpones until next year then we may see some short term correction in the market.

 

Rupee and Crude updates for the last week:

Indian rupee closed at Rs 71.79 last Friday, during the week it got depreciates 14 paise or 0.20% from the previous week’s close. The Brent crude futures oil price closed at $63.63 per barrel just 0.14% higher.

 

Conclusions:

Indian stock market Sensex and Nifty closed almost flat last week. This week we may see some directional moves because of monthly derivative expiry. The nifty future could be in a range of 11,800 to 12,100 and the Bank Nifty future can trade in a range of 30000- 31800. You can also follow our daily Nifty and Bank Nifty trading views on our website.

 

Also read,10 best stocks/shares to buy now for 2020

 

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Editor’s desk