Weekly Market Snapshot
This week displayed positive momentum driven by global factors, controlled inflation, and sector-specific gains. Investor optimism remains high, with favourable macroeconomic indicators. Continued vigilance on global cues and sectoral trends is advised for navigating the market's short-term dynamics.
Key Market Movements
- Samvat 2080 Start: Indian equity indices began Samvat 2080 positively, extending a three-week winning streak.
- Weekly Gains: In the week ending November 17, BSE Sensex gained 1.37%, closing at 65,794.73, and Nifty50 added 1.57%, reaching 19,731.80.
- Broader Indices Outperform: BSE SmallCap, MidCap, and LargeCap indices rose by 3%, 2.5%, and 1.6%, respectively.
- Global Cues and Macroeconomic Indicators: Buoyed by global cues and favourable Indian macroeconomic indicators indicating controlled inflation.
- Investor Confidence: Confidence in export-oriented sectors surged, and positive momentum is expected to continue, supported by declining oil prices and moderating US yields.
- DIIs vs FIIs: DIIs continued buying, while FIIs sold shares worth Rs 404.82 crore, lower than the previous week's selloff.
Sectoral Movements And Stock Specifics
- Top Gainers: Nifty IT index (5%), Nifty Realty index (4.7%), Nifty Auto index (nearly 4%), and Nifty Metal index (3%).
- Top Losers: Nucleus Software Exports, La Opala RG, and Rama Steel Tubes, among others.
Leaders And Laggards
- 'Back Up and 'BTST' were two of the best-performing models, with 3.81% and 3.73%, respectively.
- 'High Five' and 'Nightcrawler' were two of the underperformers, with -0.20% and 0.55% returns respectively in the same period.
- Coming to stocks, TITAGARH, or Titagarh Wagons Limited, provided a monthly return of 27.57% as part of 'Sector Superstars' model, followed by JYOTHYLAB, or Jyothy Laboratories Limited, which returned 25.26% as part of 'Alpha Ally' model.
- On the contrary, ZEEL, or Zee Entertainment Enterprises Limited, was the underperformer with negative 8.75% returns as part of the 'Buy High Sell Higher', followed by MANINFRA, or Man Industries Limited with negative 4.46% returns as part of the 'Sector Superstars' model.
Expert Insights And Market Outlook
- Ajit Mishra, Religare Broking: Suggests maintaining a positive bias until Nifty breaches 19,450 and favours sectors other than banking and financials for long trades.
- Rupak De, LKP Securities: Expect a positive trend, with support at 19,630/19,500 and resistance at 19,850/20,000.
Reads On The Internet
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Disclaimer: The opinions expressed in this blog are personal views and should not be considered financial advice. Please do your own research and consult with a professional before making any investment decisions.