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  • Anuradha Mishra

Weekly Market Wrap - (week ending 18th November 2023)






" Nifty Analysis: Bullish Trends and Key Levels in Focus"


Sustaining this positive momentum, the Nifty consistently concludes sessions above critical moving averages, reinforcing buyer confidence. Support levels at 19,630 and 19,500 act as sturdy foundations for the current upward trajectory.📈.


📈: '' Market Update''

The Nifty 50 index encountered a formidable barrier around the 19,850 mark, corresponding to the consolidation high on the daily chart. This resistance triggered a notable intraday decline, marking a pivotal moment in recent market movements.

'' Sectoral Movement ''

The Indian stock market witnessed dynamic sectoral shifts, with financial stocks facing challenges due to recent regulatory changes by the Reserve Bank of India. Sectors such as banks, financial services, and private banks collectively declined by approximately 0.75%, while public sector banks saw a more significant 2% drop. This impact on heavyweight financial sub-indexes contrasted with a broader market rally driven by positive global factors, including an easing U.S. interest rate outlook and lower oil prices. The juxtaposition of these sectoral movements highlights the nuanced nature of market dynamics, urging investors to stay vigilant amid evolving regulatory and international landscapes.

''Market Indices at a Glance''
  • Sensex: 65,794.73 (-187.75, 0.28%)

  • Nifty 50: 19,731.80 (-33.40, 0.17%)

  • Nifty Bank: 43,583.95 (-577.60, 1.31%)


📈 Stock Performance Highlights of the week :


Top Nifty 50 Gainers Today:

SBI Life Insurance Company Ltd: +3.97% , HDFC Life Insurance Company Ltd.: +2.65% , Apollo Hospital : +2.63% ,


Top Nifty 50 Losers Today:

SBI: -3.69% , AXIS Bank: -3.12% , ONGC: -2.70% , BPCL: -2.11% , Bajaj Finance: -1.92% .


"Nifty's Bullish Momentum: 'Buy on Dips' Strategy Prevails Amid Upward Trajectory 📊 '' The Nifty has displayed a predominantly bullish sentiment, adopting a range-bound trading pattern with an upward bias. Recent market dynamics have seen a growing preference for the 'buy on dips' strategy, gaining traction after the index crossed the pivotal 19,500 mark.it concludes sessions above critical moving averages, reinforcing buyer confidence. Support levels at 19,630 and 19,500 act as sturdy foundations for the current upward trajectory.

Looking ahead, resistance levels at 19,850 and 20,000 pose potential challenges, but the overall optimistic sentiment suggests the market is poised for further gains.

''Market Rebounds: Sensex Gains 307 Points, Capping Recent Correction 📊 '' The Sensex demonstrated resilience, surging by 306.55 points to settle at 65,982.48. Similarly, the Nifty 50 closed higher by 89.75 points or 0.46%, reaching 19,765.20 on November 16, which also marked the weekly expiry day.

Conclusion: The market's recent performance highlights the significance of monitoring key levels and indicators. As investors navigate through these dynamic trends, it's crucial to remain vigilant and adapt strategies accordingly.
















Disclaimer

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully. The NAVs of the schemes may go up or down depending upon the factors and forces affecting the securities market including the fluctuations in the interest rates. The past performance of the mutual funds is not necessarily indicative of the future performance of the schemes. The Mutual Fund is not guaranteeing or assuring any dividend under any of the schemes and the same is subject to the availability and adequacy of distributable surplus. Investors are requested to review the prospectus carefully and obtain expert professional advice with regard to specific legal, tax and financial implications of the investment/participation in the scheme.




Market Highlights :

  • Rupee Softens Amidst Dollar Demand: The Indian rupee saw a marginal decline on Friday, influenced by heightened U.S. dollar demand from local companies, counteracting positive trends in Asian currencies. Closing at 83.27 against the previous session's 83.2325, the rupee maintained a narrow range between 83.01 and 83.3325 throughout the week, ending relatively unchanged from the previous Friday.

  • Asian Currencies Gain Momentum: Asian currencies experienced an uptick as U.S. Treasury yields retreated, fueled by economic data signaling a potential cooldown in the U.S. labor market. The 10-year U.S. bond yield hit 4.39%, reaching its lowest level since September.

  • Indian shares witnessed a mixed week as a decline in financial stocks overshadowed positive factors like the easing U.S. interest rate outlook and lower oil prices. Indexes tied to financial sectors, including banks and private banks, dipped by around 0.75%, with public sector banks experiencing a steeper 2% decline. The drop in financials, particularly notable in heavyweight Nifty 50 sub-indexes, followed concerns over loan growth and profitability triggered by the Reserve Bank of India's recent tightening of rules for personal loans and credit cards.


Disclaimer: This information is for educational purposes only and should not be considered as financial advice. Invest wisely and consult a financial professional for personalized guidance.



Quote of the week 📢


"Consider SIPs as the steady rhythm of rain, nurturing your financial garden to bloom with abundance over time."


 

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Stay tuned for further updates 🚀 and analysis on the NIFTY index and other market trends 📢. , Happy investing💰!


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Disclaimer : While all efforts have been taken to make this blog and its data as authentic as possible, please refer to the original source of the data, like NSE/ BSE etc. We will not be responsible for any loss to any person/entity caused by any short-coming, defect or inaccuracy inadvertently or otherwise crept in this Blog.


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