Indian Market: Nifty50 Gains Over 2% to End Three-Week Losing Streak

Nifty 50 up by 2.45 percent during the week and closed at 17360.

Nifty 50 up by 2.45 percent during the week.

NSE Nifty 50 stock index in the Indian stock market for the week ending on Friday.

Nifty 50 index opened in green on Monday with a gain of 40.7 points, and it closed in green on Friday with a gain of 279 points. This indicates a positive trend in the market over the week.

Furthermore, on a weekly basis, the Nifty 50 index closed in green by 2.45 percent at 17360. This indicates a significant increase in the index value over the course of the week. Overall, it seems that the NSE Nifty 50 performed well during the week, which is good news for investors in the Indian stock market.

Nifty Bank’s performance in the Indian stock market.

Nifty Bank index opened on Monday with a high gain of 431 points and closed in green on Friday with a gain of 699 points. This indicates a positive trend in the market over the week for the banking sector.

Bank Nifty

Furthermore, Nifty Bank index closed in green by 3.08 percent at 40609 on a weekly basis. This suggests a notable increase in the index value over the course of the week for the banking sector. Overall, it seems that the banking sector had a positive week in the Indian stock market.

Indian market for the week ended March 31.

Indian market had a positive week, gaining more than 2 percent after a three-week losing streak. There were several factors that contributed to this performance, including positive global cues, F&O expiry, FIIs buying, and easing concerns over the health of the banking sector.

F&O expiry refers to the expiration of futures and options contracts in the stock market, which can create volatility and uncertainty in the market. Positive global cues can also have a significant impact on the Indian market, as it is heavily influenced by global economic conditions.

Buzz

In addition, FIIs or foreign institutional investors are a key driver of the Indian market, and their buying activity can signal confidence in the market. Finally, easing worries over the health of the banking sector can provide a boost to the market as it is a critical sector in the Indian economy.

Overall, the positive performance of the Indian market is a welcome development for investors and suggests that there may be opportunities for growth in the future.

Indian stock market during the financial year ended March 31, 2023.

It appears that the Indian stock market experienced a volatile ride during the financial year, with several factors contributing to the fluctuations. The aggressive monetary policy stance by global central banks, high inflation, the Russia-Ukraine war, and outflows from overseas funds were all significant factors that impacted the market.

Despite this volatility, the , Nifty ended half a percent lower, while the Sensex managed to gain about a percent during the financial year. This suggests that while the market may have been volatile, there were still opportunities for growth and gains for some investors.

It is interesting to note that despite the volatility in the Indian stock market during the financial year, India was the second-best performer among the emerging markets, after South Africa. This suggests that there may have been certain factors unique to India that helped to mitigate some of the negative impacts of the global economic conditions.

In contrast, equity benchmarks of other countries such as Russia, Indonesia, Singapore, Thailand, Hong Kong, South Korea, and Taiwan fell between 3% and 10% during the financial year, highlighting the resilience of the Indian stock market.

The fact that the Indian equities were buoyed by flows from domestic investors is also noteworthy. This suggests that Indian investors may have had confidence in the long-term prospects of the Indian economy, even in the face of short-term market fluctuations.

Overall, the performance of the Indian stock market during the financial year ended March 31, 2023 highlights the importance of diversification and a long-term investment strategy.

Market breadth and Volatility

During the week, the market breadth was unfavourable, with a weekly advance-decline ratio of 0.89. Further, it is a bit higher than the previous week’s figure of 0.69. The volatility index India Vix further decreased during the week and closed at 5.08 and settle at 12.94.

Top Gainers and Losers of the Week

The top gainers in the Nifty 50 were Reliance (+5.81%), IndusInd Bank (+5.74%), JSW Steel (+4.56%), Hindalco (+4.38%) and Nestle India (+3.97%).

The top losers in the Nifty 50 were Bharti Airtel (-1.71%), Asian Paint (-1.32%), SBI Life (-0.99%), Adani Ports (-0.94%) and Bajaj Finance (-0.57%).

Nifty Sectors and Broader Indices

NIFTY SECTORS – WEEKLY ACTION
IT +2.73%
Realty +1.68%
FMCG +1.88%
Pharma +2.23%
Auto +1.08%
Metal +2.32%
Media +0.26%
Consumer Durables +0.33%
Oil & Gas +1.14%

Weekly Pivots

As per the above pivots data, 17050 to 17540 is the Nifty 50 trading range for the next week.

Read our earlier blogs here.
FY23 Concludes on a Positive Note as Nifty Surpasses 17,300
Late Surge Lifts Nifty Index Above 17,100 after Trading in Narrow Range
Indian Equity Markets Experience Sharp Decline in the Closing Hours of the Session

This article is only for educational purposes and is not an investment advice. Please consult with your investment advisor before investing.