Weekly Equity Market Report

  Market Snippet

  • Nifty fut tanked for the consecutive second week to close lower at 11632.00.
  • Godrej Properties launching a luxurious residential development at RK Studios, Chembur. The company is currently launching Collector’s Edition 3 & 4 bedroom residences.
  • BSE has signed a licensing agreement with Intercontinental Exchange.
  • Lupin Limited announced the successful completion of the inspection carried out by the UK Medicines and Healthcare products Regulatory Agency MHRA.
  • IndiGo appoints Ronojoy Dutta as Whole Time Director & CEO with immediate effect.
  • Maruti announces price increase. Co says price change varies across models & ranges from 0% to 4.7%
  • Infosys completed the divestment of its shares in Unsilo A/S for a total consideration of approximately USD 0.8 million.
  • JSW Steel subsidiary sell 39% equity stake in Geo Steel LLC to GeoSteel Group Holdings.

Weekly Market View

Nifty fut tanked heavily following budget session on Saturday as the investor didn’t cheer the annoucments made in union budet 2020-2021 by FM.The global indices also tanked following the corona virus impact on global equities.Nifty looks bearish for coming week trade too and break of 11500 may drag the index even further to 11300.However the profit booking may take the index to test the resistance of 11800.

Weekly Nifty Bank View

Bank Nifty too tanked following the nifty 50 and settled lower for the 5th week consecutively on charts.Nifty bank fut looks berish for coming tradeing week too and break of 29600 may drag the index further southwards to test the support of 28850. However an close above 30000 may witness some upside action to test the resistance level of 30680 and then 31280

Global Markets Update

European shares tanked as the impact of corona virus surged globally and UN annconced it to be a global health emergency as the death toll more than doubled to over 250 from a week ago. U.S. stocks were lower, as losses in the Oil & Gas, Technology and Industrials sectors led shares lower. The DJIA lost 2.09% to hit a new 1-month low. The DAX declined 1.33% to hit a new 1-month low, while the MDAX index fell 0.72%, and the TecDAX index fell 1.41%.

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