Directionless Market makes a Flat Weekly Close – Waiting for Trigger!

At the close, the Nifty 50 was at 17,856.50 down by 0.21%

NSE Nifty 50 is a stock market index in India that tracks the performance of 50 major companies listed on the National Stock Exchange of India. A decrease of 0.21 percent in the index value would indicate that the overall value of the 50 companies represented by the Nifty 50 index has gone down. A closing in the “red” typically refers to a negative performance in the stock market, where the closing value of the index is lower than its opening value.

Today, the NSE Nifty 50 index opened at a low and ended the day in the red, down 0.21 percent. The index closed at 17,856.50, below the 17,860 mark.

The index opened at 17,847.55 and hit an intraday high of 17,876.95. However, it soon started to decline and hit an intraday low of 17,856.50.

Common pattern in the stock market where certain sectors can be more affected by negative news or market conditions compared to others. In this case, it seems that the metal, power, oil & gas, FMCG, and information technology sectors were under pressure.

As global market conditions and company-specific news can impact the performance of domestic markets. In this case, the recent reports from Hindenburg Research on Adani-group companies and their potential impact on these companies can create uncertainty and volatility in the market.

Buzzing

The stock prices of Adani group companies have been under pressure following the announcement by MSCI, the global index provider, that it would reduce the amount of freely tradable shares in the group. This announcement has caused a significant drop in the stock prices of Adani group companies.

The MSCI announcement has been seen as a major blow to the Adani group, which has been trying to expand its presence in the global markets. The group has been trying to increase its presence in the international markets, but the MSCI announcement has put a damper on those plans.

The MSCI announcement has also caused a significant drop in the stock prices of other companies in the Adani group. This has been attributed to the fact that the MSCI announcement has caused investors to become wary of investing in the group.

The Adani group has been trying to reassure investors that the MSCI announcement will not have a major impact on its operations. The group has also been trying to reassure investors that it will continue to focus on its core business and will continue to invest in its core businesses.

Despite the MSCI announcement, the Adani group has been able to maintain its presence in the global markets. The group has been able to maintain its presence in the global markets by focusing on its core business and by investing in its core businesses.

MSCI is a leading provider of investment decision support tools and is widely followed by investors around the world. Its announcement to alter the free float of Adani Enterprises, Adani Transmission, Adani Total Gas, and ACC can have an impact on these companies’ stock prices and investor sentiment towards them.

Bank Nifty: Up by 0.01%

The Indian stock market experienced a volatile session on Friday, with the Bank Nifty and BSE Sensex both closing in different directions. The Bank Nifty opened in the red but managed to close in the green, up by 0.01 percent at 41,559.40. On the other hand, the BSE Sensex was down by 0.20 percent and closed in the red at a low of 60,682.70.

Bank Nifty

The Nifty Banking sector had some gainers and some losers for the day. The gainers included AU Bank with a 1.58% increase, Federal Bank with a 1.58% increase, Bandhan Bank with a 0.85% increase, Punjab National Bank with a 0.59% increase, and State Bank of India with a 0.38% increase. On the other hand, the biggest losers in the sector included IDFC First Bank with a 0.94% decline, ICICI Bank with a 0.63% decline, Axis Bank with a 0.20% decline, and Kotak Bank with a 0.02% decline. These results suggest that some banking stocks performed better than others for the day.

Advance Decline Ratio

Today, the advance-decline ratio was 0.98, and the market breadth was negative. The volatility index India Vix decreased by 2.26 percent to settle at 12.75 and the FIIs were net buyers today.

DAILY MARKET ACTION
Advancers – 1100
Decliners – 1118
52Wk High –  36
52Wk Low – 75
High Band Hitters – 66
Low Band Hitters – 44
200d SMA – 17311
50d SMA – 18104
20d SMA – 17872

Top Gainers and Losers Stocks

The top gainers were Tata Motors (+1.75%), UPL (+1.47%), Cipla (+1.13%), Hero MotoCorp (+0.97%), and HDFC Life (+0.65%).

The top losers were Adani Enterprises (-3.78%), HCL Technologies (-2.65%), Hindalco (-2.42%), Tata Steel (-2.25%), and Coal India (-1.51%).

Top Gainers and Losers Sector

The top gainers sector were Realty (+1.36%), Media (+0.39%), Auto (+0.36%), Consumer Durables (+0.32%), and Pharma (+0.20%).

The top losers sectors were Metal (-1.82%), Oil & Gas (-0.57%), FMCG (-0.40%), and IT (-0.39%).

The Nifty Midcap 50 was up by 0.15 percent, while the Nifty Small Cap 50 up by 0.59 percent on the day.

The Nifty Midcap 50 index currently closed at 8,771.75, while the Nifty Small Cap 50 index currently closed at 4,306.25.

SECTORS – NOTABLE ACTION
REALTY +1.36%
MEDIA +0.39%
AUTO +0.36%
METAL -1.82%
OIL & GAS -0.57%
FMCG -0.40%

Stocks Ban List

(SEBI) F&O ban list (IBULHSGFIN open at 118.00 and close at 117.75), and (AMBUJACEM open at 354.75 and close at 360.80), are not currently on the stock exchange.

The Securities and Exchange Board of India (SEBI) has banned IBULHSGFIN and AMBUJACEM from trading in the futures and options (F&O) segment of the stock exchange.

A stock enters the Ban List if its MWPL is above 95%. Implying that, Ban List shows the Futures and Options (FnO ) stocks whose combined open interest in all FnO contracts for a given period crosses 95% of Market-Wide Position Limit.

ADANIPORTS exited from ban list.

PNB, IDEA and GNFC has a possibilites of entery in a ban list.

Daily Pivots

As per the above pivots data, 17810 to 17900 is the Nifty 50 trading range

Read previous -Daily Insights- here
Nifty Manages a 2nd Consecutive Close in Green
Nifty 50 Stages a Decent Comeback
Nifty Struggles to Find Direction…

This article is only for educational purposes and is not an investment advice.