Nifty, +0.2%; Sensex, +0.3%; Nifty Midcap, -0.7%; Nifty Smallcap, +0.0%; and Model Portfolio, -0.6%.
Weekly Market Review
Benchmark indices turned buoyant this week over hopes from the Union Budget 2019. Nifty was trading above its 21-DMA till Thursday, but Friday’s sell-off on higher volume pushed indices lower. The Union Budget failed to bring delight to investors. Nifty added one distribution day today, taking its total to three.
On the sectoral front, Nifty PSU Bank (+3.1%) gained the most as investors were hopeful of recapitalization. Among others, Nifty Financial Service (+1.8%) and FMCG (+1.5%) followed the suit. On the flip side, Nifty Metal (-4.3%), IT (-2.4%), and Pharma (-1.7%) were the top losers.
Today, the advance-decline ratio was skewed toward losers. Of the 2,089 stocks traded on the NSE, 476 advanced, 1,265 declined, and 348 remained unchanged.
Noteworthy events in the upcoming week:
● July 12: CPI (June)
● July 12: Manufacturing output (May)
● July 13: Trade balance
Stocks in News