Equity Weekly Market Updates

Market Snippet

  • Nifty dragged for the second weak and settled at 11547.30.
  • Welspun Corp entered in to an agreement for supplying 220 KMT of pipes for oil & gas project in the American region.
  • Infosys announced the formation of a joint venture with Temasek, the global investment company headquartered in Singapore.
  • Ashok Leyland inaugurated its cutting edge electric vehicle facility for design, prototyping, testing, and process.
  • BEML has launched an indigenously designed & developed nation’s first 205T Electric Drive Rear Dump Truck.
  • TVS Motor Company launched super-premium motorcycle TVS Apache RR 310.
  • CCI and Central Warehousing Corporation have entered into an agreement to form a Joint Working Group to operate the CFS facility of Central Warehousing Corporation located at Pipavav Port.

Weekly Market View

Nifty 50 started the session on flat note and throughout the day traded with mixed sentiments. Moreover, Nifty settled the session above 11500 mark, driven by rally across the board barring IT. In daily charts, it just closed at 8EMA which depicts indecisiveness. One can expect upside movement if it crosses immediate resistance mark of 11775 and immediate support mark of 11300.

Weekly Nifty Bank View

As like Nifty 50, Nifty Bank also started the session on flat note and traded with mixed sentiments throughout the week. Bank nifty showed recovery from lower level but still closed below 8 EMA which shows some negative signals. One can expect downside movement if it breaches immediate support mark of 26800 and immediate resistance mark of 27500.

Global Markets Update

World markets had positive trading session trade talk efforts between the U.S. and China cooled after U.S. President Donald Trump tweeted that the country “was under no pressure to make a deal with China.”
US S&P 500 settled at 2904.18. The German index DAX closed at 12088.02. The Asian peers closed the bell with Japan’s Nikkei 225 closing the week at 23101.50 and Shanghai composite at 2681.64.

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