Weekly Big Picture : Nifty Ends the Week on a Flat Note; Torrent Pharma Receives Observations

Market Pulse

Confirmed Uptrend

Weekly Action

Benchmark indices closed flat. Nifty, +0.02%; Sensex, -0.2%; Nifty Midcap, -1.9%; Nifty Smallcap, -1.7%; and Model Portfolio, -0.7%.

Weekly Market Review

It was a volatile week for the Nifty and the Sensex. The Friday’s movement helped the Nifty to end the week in a positive territory. The volatility is expected to persist as the companies are reporting their March quarter results.

On the sectoral front, barring Nifty IT (+2.6%), Pharma (+0.6%), and Energy (+0.6%), all the indices ended in red. Nifty Auto (-5.3%) which was the top gainer last week lost the most this week, followed by Realty (-2.2%).

Currently, the market is in a Confirmed Uptrend with one distribution day. The Nifty observed a distribution day on Thursday. We might downgrade the status to an {Uptrend Under Pressure) if the count increases to 3–4.

Noteworthy events in the upcoming week:

●April 30: Zensar Tech Results

●May 1: Britannia Results

●May 2: Manufacturing PMI (April)

Stocks in News

Piramal Enterprises: The Company reported its March quarter results. Revenue from operations grew 23% to Rs 3,679 crore y/y. PAT increased 19.8% to Rs 338 crore. It also announced a dividend of Rs 28/share. The stock was down 5.9% today.

Torrent Pharmaceuticals: The Company received çertain observations from the U.S. FDA after inspection of its Indrad plant in Gujarat. The Company said, these are procedural in nature and are confident of addressing them satisfactorily. The stock was up 1.5% today.

Hdfc Life Insurance Co: The Company reported its March quarter results today. Net premium income increased 14.1% to Rs 10,247 crore. PAT increased 4.9% to Rs 364 crore. The stock was up 0.1% today.

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