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  • Anuradha Mishra

Weekly Market Wrap - ( week ending 9th September 2023)






" Significant Discourses of the Week"


Today's gains bring the Nifty and Sensex within striking distance of their all-time highs, with a mere 1 percent and 2 percent difference, respectively.

''Nifty 50 Breaks 19,800'' Barrier, Sensex Surges Past 66,500 on September 8

September 8 brought a breath of fresh air for the Indian stock market, as benchmark indices opened on a positive note. A strong recovery in metal and FMCG counters during the past half hour further bolstered gains. This surge allowed the Nifty 50 to breach its immediate resistance level of 19,800, a feat not achieved since July 17. Simultaneously, the BSE Sensex surged beyond the 66,500 mark.

"Powering the Surge: Ministry of Power's 4,000-MW Tender Sparks Market Frenzy"

A significant catalyst for today's market surge was the buzz surrounding power stocks. Reports indicate that the Ministry of Power is gearing up to initiate a tender process for the procurement of 4,000-MW gas-based electricity. NTPC Vidyut Vyapar Nigam has been entrusted with the pivotal role of facilitator. This news sent shockwaves through the market, resulting in a substantial surge in NTPC shares, making it the top gainer on the Nifty 50, with an impressive uptick of around 3 percent.

''Sectoral Performance''

In terms of sectors, capital goods, oil & gas, power, and realty witnessed strong gains, with each sector posting increases of 1.5-2 percent. These sectors were bolstered by positive sentiment and various factors contributing to their growth. In contrast, the pharma index faced a slight dip, down 0.3 percent, which may have been influenced by specific industry dynamics.

TOP GAINERS THIS WEEK - AUGUST 19th , 2023 - NTPC - 5.02 % JIO Financial Srvices - 4.99%, ONGC. - 4.05 % , JSW Steel Ltd. - 3.51% , TATA Steel Ltd..- 3.17 % ,


"Indian Indices Extend Rally, Reach Six-Week High on Strong Sectoral Performance" : Closing the week on a high note, the BSE Sensex recorded a significant gain of 333 points, equating to a 0.50% increase, concluding at 66,599 points. Indian equities continued their upward trajectory, marking the sixth consecutive session of gains and reaching a notable six-week high. The surge was spearheaded by impressive performances in banking, financial, energy, and auto sectors, effectively overshadowing the global equity market's weaker trend.
"Anticipated Milestone: Nifty's Potential Surge Past 20,000 Mark" : analysts predict that the spot Nifty index is poised to retest its historic peak of 19991.85, originally achieved on July 20th, in the coming week. This projection signifies a potential breakthrough of the psychological 20,000 mark, a milestone that carries significant market implications. Notably, the Nifty futures contract set to expire on November 30th has already exceeded this benchmark, concluding at an impressive 20,088. This development underscores the dynamic nature of the market and the potential for further upward momentum.

Midcap and Smallcap Trends:

The BSE midcap index showed resilience by rising 0.9 percent, indicating broader market participation and investor confidence. Meanwhile, the smallcap index posted a 0.4 percent increase, demonstrating that opportunities are not limited to large-cap stocks alone.

Top Gainers: Several prominent stocks contributed significantly to the market's upswing. Notable gainers in the Nifty index included Coal India, NTPC, BPCL, Tata Motors, and Larsen and Toubro. These companies saw their stock prices surge, attracting investor interest and driving the market's positive momentum.

Top Losers: On the flip side, some stocks faced headwinds during the week. UPL, Eicher Motors, Apollo Hospitals, ITC, and UltraTech Cement were among the Nifty's notable losers. Factors affecting these companies led to declines in their stock prices, highlighting the diverse nature of the market.

Conclusion: The minor decline in the Sensex and Nifty, coupled with the net selling by institutional investors, offers a glimpse into the intricate world of stock market movements. The market's response to institutional activity underscores the importance of a well-rounded perspective, combining technical analysis, fundamental factors, and a keen awareness of global economic developments. In the midst of these ever-changing dynamics, investors and traders who remain vigilant and well-informed are better positioned to make informed decisions in the dynamic and exciting world of stock trading.
















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.




Sectoral Performance:

The week's standout feature was the broad-based strength across sectors, with the exception of pharmaceutical stocks. Investors appeared enthusiastic about various segments, and the market reflected this sentiment:

  • Oil & Gas, Capital Goods, Power, and Realty: These sectors saw significant gains, contributing to the Nifty's reclamation of the crucial 19,800 level at mid-session. The strong performance in these sectors underscores their importance in the current market dynamics.

  • Market Movements: Long Build-up in Power Sector, Short Build-up in Entertainment and Pharma: In the recent market activity, there has been a notable long build-up in Power Finance Corporation, REC, and Havells, indicating a positive sentiment towards these stocks. Conversely, a short build-up was observed in Zee Entertainment Enterprises, Chambal Fertilisers and Chemicals, and Glenmark Pharma, suggesting a more cautious approach towards these entities. This analysis sheds light on the evolving trends within these sectors and may offer valuable insights for investors.



Market Highlights :

  • On Friday, the rupee showed strength at 82.9675, surpassing its previous record low closing of 83.21. Meanwhile, Brent crude futures dipped to $89.82, after reaching a 10-month peak of $91.15 earlier in the week. This market movement indicates dynamic shifts in both currency and oil prices, warranting close attention from investors and analysts alike.

  • GRM Overseas shares have displayed a consistent uptrend over the past four sessions, surging from ₹179.05 to ₹231.35 per share on BSE. This remarkable rally signifies a staggering 30 percent increase in just four days. Today, the stock opened on a positive note, swiftly reaching an intraday high of ₹231.35, marking an impressive intraday gain of approximately 4 percent within minutes of the market opening. This surge showcases the stock's dynamic performance and investor confidence.

  • India, the US, United Arab Emirates, and Saudi Arabia are poised to announce a groundbreaking agreement to construct vital shipping and railway connections, bridging Europe, the Middle-East, and India, according to US officials. This visionary initiative aims to establish a robust economic corridor interlinking Middle-Eastern nations via advanced rail networks, seamlessly connecting them to India through strategic shipping routes. Notably, the European Union will play a pivotal role in this transformative project.

In the recent market activity, there has been a notable long build-up in Power Finance Corporation, REC, and Havells, indicating a positive sentiment towards these stocks. Conversely, a short build-up was observed in Zee Entertainment Enterprises, Chambal Fertilizers and Chemicals, and Glenmark Pharma, suggesting a more cautious approach towards these entities. This analysis sheds light on the evolving trends within these sectors and may offer valuable insights for investors.

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 📢


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