Nifty 50 up by 1.12 percent during the week and closed at 18513.
Nifty 50 up by 1.12 percent
NSE Nifty 50 opened in red on Monday at 160 points and on Friday closed in green by gaining 513 points or by 1.12 percent as compared to the previous week.
Similarly, Nifty Bank also opened at low at 347 points and closed at high by gaining 984 points or by 1.29 percent as compared to the previous week.
Market breadth and Volatility
During the week, the market breadth was favourable, with a weekly advance-decline ratio of 1.08. Further, it is higher and better than the previous week’s figure of 0.71. The volatility index India Vix further decreased and closed at 13.33. However, the FII’s were net sellers during the week..
Top Gainers and Losers of the Week
The top gainers in the Nifty 50 were HDFC Life (+10.34%), BPCL (+6.58%), IOC (+5.80%), IndusInd Bank (+5.14%) and Axis Bank (+3.38%).
The top losers in the Nifty 50 were Nestlé India (-1.99%), Kotak Bank (-1.63%), Bajaj Finserv (-1.21%), Adani Ports (-1.01%) and ONGC (-0.70%).
Nifty Sectors and Broader Indices
NIFTY SECTORS – WEEKLY ACTION
Oil and Gas +2.47%
Consumer Durables +1.33%
As per the above pivots data, 18250 to 18660 is the Nifty 50 trading range for the next week and based on this week’s action the bias is positive.
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This article is only for educational purposes and is not an investment advice. Please consult with your investment advisor before investing.