Nifty Rallied By 267 Points From Its Low, Following Global Cues And Positive Hopes On US-China Trade Deal

December 14, 2019 - 11:02:53 AM

Market Action - This Week (2-Dec-19 to 6-Dec-19)

Last Week Index Performance

Indian benchmark Index Nifty, this week after opening at 11939 made a low of 11832 and took support of its important monthly level of 11802 and bounced back sharply by 267 points to make a high of 12099 and closed at 12088, up by 1.39% from its previous week close.

Buying was triggered, after the US Federal Reserve kept interest rates unchanged and positive global cues on hopes of a trade deal between US and China, which kept the market in the positive zone. This is a positive indication and one may expect further upside in the short-term. A sustainable move above 12158 could take Nifty to 12200 level.

Midcaps too witnessed decent gains, but underperformed in the benchmark Nifty. Midcap closed at 1.20 percent up and the Small Cap Index settled down by 0.79 percent, however it recovered around 100 points from its weekly low.

Nifty Open Interest, which is a key indicator of market direction is showing Major players FII & PRO have net short position of (-21297) contracts, which is very marginal. Yesterday, they have bought 11571 contracts in Index option. For further details download our app “Value Stocks” and follow Nifty Trend.

Sector Analysis

In the current trading week, among the Major Sectors Infrastructure Construction and Engineering have outperformed with 2.66%, followed by Bank-PSU, Metals and Mining with 2.36% and 2.12% respectively. As far as Minor Sectors are concerned, Gold and Jewellery continues to remain strong and has taken the lead with 3.83% change, followed by Sugar and Services with 1.64% and 1.48% change respectively.

Top 5 performing companies were, Camlin Fine Sciences (16.73%), Bf Utilities (13.30%), Titagarh Wagons (11.16%), Bliss Gvs Pharma (9.82%) and KNR Constructions (9.26%).

Sectors performance in the current week

Sectors performance in the current week

Small Cap Gainers in the current week

Small Cap Gainers in the current week

Large Cap Gainers & Losers in the current week

Large Cap Gainers & Losers in the current week

Mid Cap Gainers & Losers in the current week

Mid Cap Gainers & Losers in the current week

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2. Past performance is not the guarantee of future performance.

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