Nifty, +0.6%; Sensex, +0.5%; Nifty Midcap, +1.4%; Nifty Smallcap, +0.9%; and Model Portfolio, +1.5%.
Weekly Market Review
During the week, Nifty traded range-bound by its 21-DMA (resistance) and 50-DMA (support). There was no break-out in either of two directions. Thursday’s action was volatile as the June series contracts expired. The Union Budget on July 5 can give impetus to Nifty.
On the sectoral front, barring IT (-1.6%) and Media (-0.4%), all sectors closed in the green for the week. Nifty PSU Bank (+3.9%), Realty (+3.9%), and Pharma (+1.9%) were the top gainers.
Today, the advance-decline ratio was skewed toward losers. Of the 2,089 stocks traded on the NSE, 831 advanced, 918 declined, and 340 remained unchanged.
Noteworthy events in the upcoming week:
● July 1: Manufacturing PMI (June)
● July 5: Union Budget for FY20
Stocks in News
Dewan Housing Finance: The Company postponed its March quarter results by two weeks, citing unforeseen operational engagements. The stock was down 11.7% today.
Glenmark Pharmaceuticals: The Company received approval from the U.S. FDA for Ezetimibe and Simvastatin tablets, used for treating high levels of cholesterol in the blood. The stock was down 1.1% today.
Lupin: The Company received approval from the U.S. FDA for Mirabegron Extended Release (ER) tablets. These tablets are used for the treatment of Overactive Bladder (GAB) with symptoms of urge urinary incontinence, urgency, and urinary frequency. The stock was down 1.4% today.
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