Weekly market updates: Nifty and Bank Nifty share price gained above 1%

 

Weekly Updates: Nifty and Bank Nifty share price: Indian market gained more than 1% last week. Nifty gained 138.6 points or 1.36% and closed at 10383 levels while Sensex was up 439.54 points or 1.27% and closed at 35171.27. The Bank Nifty was volatile during the week, it gained 253.95 points or 1.19% and closed at 21592.05.

The Nifty midcap and smallcap 100 indices outperform large-cap last week. Nifty midcap was up by 409.40 points or 2.84% and closed at 14975.25 levels. Whereas, the Nifty smallcap added another 131.6 points or 2.86% in June 26th end week and closed at 4708.35.

Last week, the market ignored negative news like the surge of coronavirus cases both in India and the US and IMF’s prediction of contraction in India and global economic growth. The positive news of Glenmark’s drug approval from the DCGI has made little influence on the Indian market other than global cues.

 

Top Gainers and Losers in Nifty50 index

Weekly Nifty50 Gainers
Company Name	LTP	Previous Close	Change (%)
Hero Motor Corp	2540.45	2355.85	7.84
Bajaj Finance	2903.50	2698.60	7.59
Bajaj Auto	2867.60	2674.35	7.23
Larsen & Toubro	962.20	898.20	7.13
Eicher Motors	18473.40	17349.35	6.48
Weekly Nifty50 Losers
Company Name	LTP	Previous Close	Change (%)
ICICI Bank	349.10	363.80	4.04
HDFC	1769.35	1835.10	3.58
Maruti Suzuki	5754.90	5897.35	2.42
Bharti Airtel	560.40	572.50	2.11
ONGC	84.15	85.75	1.87

 

Top gainers and Losers in Nifty Midcap and Smallcap 100

Weekly Nifty Midcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
Future Retail	142.40	111.65	27.54
IDBI Bank	40.00	31.75	25.98
Weekly Nifty Midcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
Oil India	94.45	105.25	10.26
Varun Beverages	681.80	731.95	6.65
Weekly Nifty Smallcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
Karur Vysya Bank	36.60	27.10	35.06
IRB Infra Dev	90.10	71.00	26.90
Weekly Nifty Smallcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
Kaveri Seeds Co	563.55	597.05	5.61
TV18 Broadcast	35.50	37.55	5.46

 

Key factors that will influence the market next week

Q4 Results 

Power Grid Corp-

The Power Grid Corp. has reported better than expected performance for the Q4FY20 quarter. The company’s consolidated net profit rose by 10.2% to Rs 11059.40 crore in the fiscal year ended 31st March 2020 as compared to Rs 10,033.52 crores in last year FY19. The Net sales rose by 7.66% to Rs 37,743.54 crores.

The growth was driven by its mainstay transmission business. The share price of Power Grid Corp gained 2% after the Q4 results.

GAIL-

GAIL reported 215.92% YoY growth in their consolidated net profit at Rs 4813.88 crores for the 31st March-end quarter. The company had reported Rs 1523.73 crore in the same period last year. The consolidated revenue of the company declined 5.97% YoY to Rs 17938.08 crores in Q4FY20

The company has received a tax credit of Rs 1215.18 crores during the quarter under review. The share price of GAIL gained 3.78% after the announcement of the Q4 results.

ITC-

The ITC reported a 9.05% drop in standalone net profit for the march end quarter at Rs 3797.08 crores. The company has reported its net profit of Rs 3797.08 crores for March-end quarters compared to Rs 3481.90 in the same period last year.

The company’s revenue from operation dropped 6.4% to Rs 11,420.04 crores from Rs 12206.03 crores in the same period last year. Its EBITDA declined by 8.9% but margin increased by 30 bps. The Q4 result was announced after market hours on Friday.  It has missed the street’s estimate and the market will react to this stock on Monday.

Coal India-

Coal India posted its Q4 results on Friday after the market. It has reported 23.24% YoY fall in consolidated net profit at Rs 4625.76 crores compared to Rs 6026.47 last year in the same period. The consolidated revenue of Coal India declined by 3.55% on YoY to Rs 27568.23 crores as compared to Rs 28585 crores in the last year of the same period. EBITDA has also declined by 18.3% compared to last year’s same period.

It missed the street estimates, the share price of Coal India may react negatively on Monday.

The Q4 results for the next week are:

Q4 Results dates for Nifty50 Stocks
27th June	NTPC
29th June	Tata Steel
30th June	ONGC

 

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FIIs and DIIs movement:

Last week FIIs were the buyers and DIIs were the sellers in the cash market. FIIs bought Rs 556.98 crores whereas the DIIs sold Rs 1309.52 crores. In the month of June so far FIIs bought Rs 9430.09 and DIIs sold only Rs 653.04 crores.

For the last two days, FIIs were the sellers selling around Rs 1800 crores in the cash market. It can be a concern for the market in the next week. So traders need to monitor closely the FIIs movement in the cash segment.

 

Auto Sales 

The Auto sales data for the month of June is expected on the 1st of July next week. In the month of June, due to the relaxation in lockdown, we have seen most of the auto plants have restarted their plants. Many auto companies tied up with financial companies for providing easy loans to increase sales.

The auto sales figure would be negative compared to last year’s same period due to lockdown. But we may see a positive movement in the auto stock if there is any development compared to the previous month which is quite possible. So traders can check out the auto sales numbers if having any interest in auto sectors.

 

Coronavirus 

The rising coronavirus cases in India is the concern, India has crossed the half a mission mark and stands in fourth place in the global tally.  Even globally the US, China, Germany, and some other countries have witnessed the resurgence of coronavirus cases.

Some states like West Bengal, Jharkhand, Assam in India have reimposed the lockdown. If the whole country reimposes the lockdown then there would be again economic loss. The concern of rising coronavirus cases can make the market nervous and volatile next week. 

Global cues:

Investors should keep a close eye and follow the global cues and geopolitical tensions between US-China and India-China to get the market direction. The geopolitical issues that created the market nervous and volatile a few weeks back are quite now. But we would advise traders to stay cautious and focus more on quality stocks.

However, hopes of continued fiscal stimulus remain alive across the globe. The central bank all over the world has infused liquidity in order to support its economy. In the second wave of coronavirus, we may see such kind of stimulus support again and that can be positive for the market.

Macro data

Investors or traders should stay cautious ahead of macro data that are going to announce next week. The Markit PMI for Manufacturing and Service data for June would be released on the 1st and 3rd of July respectively during the market hours. Traders are advised to be cautious these days.

The macro data to be announced next week are

Macro Data Next Week
30th June	Infrastructure Output Data
30th June	Q1 Current Account Data
1st July	Manufacturing PMI Data
03rd July	Foreign Exchange Reserve
03rd July	Service PMI Data

 

Technical Levels of Nifty and Bank Nifty share price

Nifty technical analysis in Futures

Primary Trend of Nifty Futures next week: Mild Negative

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 10410 whereas All Down Moves Initiates Short Covering (Buy) @ 10130

If Nifty futures share price Moves Above 10385 and sustain. Then you should Buy with 1st Target of 10412 during the day or week with a Stop Loss of 10280 FOR the Target of 10412- 10445- 10475- 10532

If Nifty futures share price Moves Below 10280 and sustain. Then you should Sell with 1st Target of 10250 during the day or week with a Stop Loss of 10385. FOR the Target of 10250-  10180- 10130-10070

 

Technical analysis of Bank Nifty share price in Futures

Primary Trend of Bank Nifty future for next week: Mild Negative

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 21750, whereas All Down Moves Initiates Short  Covering (Buy) @ 20650

Bank Nifty share price future Moves Above 21650 and sustain. Then you should Buy with the 1st Target of 21775 during the day with a Stop Loss of  21350. FOR the Target of 21775 – 21895- 22021- 22290

If Bank Nifty share price future Moves Below 21350 and sustained. Then you should Sell with the 1st Target of 21225 during the day with a Stop Loss of 21395. FOR the Target of 21225 – 21060- 20920-20640

Conclusions

In the next week, the market will react to the above factors. As there is no major trigger at present, the Indian market will trade as per the global cues. You can daily visit our website for Live Market Nifty and Bank Nifty recommendations, Market Updates, and more.

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Editor’s Desk

 

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