- Nifty ended the week on a negative note with giving up 10,800 mark.
- Sunteck Realty Limited issued commercial paper of Rs 35 crore.
- SC asks RCom and Jio to resolve issues over past dues by January 11.
- Media stocks gain after government increases advertisement rates.
- Tera Software Limited share prices surge 20% on order wins worth Rs325 crore.
- Delta Corp Limited board fixed Jan 21 as a record date for ascertaining entitlement for the payment of interim dividend.
- AGC Networks Limited subsidiary completed the acquisition of Black Box Corporation.
- NBCC India Limited bagged the total business worth Rs188 crore for December.
- Praj Industries share prices railed 9% as co expands bio-energy basket by adding compressed bio-gas technology.
Weekly Market View
The Nifty 50 saw consolidation throughout the week and closed lower on Friday amid subdued global cues.Globally market participants monitor trade war developments and monetary policy in the US.In daily chart, Nifty formed bearish candle and closed at 8 days EMA which shows indecisiveness in trend. One can expect upside movement if it crosses immediate resistance mark of 10875 and immediate support mark is 10730.
Weekly Nifty Bank View
Nifty Bank opened on flat and traded with mixed sentiments throughout the week. On Friday, it closed in negative zone and formed a strong bearish candle on daily charts.However it slightly fell down from higher levels but still holding above previous breakout zones of 27,350-27,400 zones. It also closed above 8 days EMA which supports bullish sentiments. One can expect upside movement if it crosses immediate resistance of 27755 and immediate support mark is 27250.
Global Markets Update
Global market was traded with positive sentiments amid improved investor sentiment following overnight gains on Wall Street.Investors responded to comments by Federal Reserve Chairman Jerome Powell.Powell reiterated the views that the Fed would be patient about interest rate hikes.US S&P 500 settled at 2596.64. The German index DAX closed at 10915.31. The Asian peers closed the bell with Japan’s Nikkei 225 closing the week at 20359.70 and Shanghai composite at 2553.83
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