Foreign Institutional Investors (FIIs) bought the market after Russia-Ukraine peace talks and fall in crude oil prices, due to which the volatile week ended 1 April. Indian benchmark indices saw a rise of 3 per cent in 2014. However, in the meantime, inflation and rising COVID cases in some parts of the world continue to be a cause of concern.
Last week, the BSE Sensex closed at 59,276.69, up 1,914.49 points (3.33 per cent). Nifty 50 closed at 17,670.45, up 517.45 points (3.01 per cent).
Looking at the sectors, the BSE Telecom index gained 6 per cent, BSE Realty Index gained 5.6 per cent and Bankex gained 5 per cent. At the same time, the BSE Metal Index lost nearly two percent.
The BSE mid-cap index rose 2.7 per cent, the small-cap index by 3.2 per cent and the large-cap index by 3 per cent.
Vinod Nair, Geojit Financial Services, said, “The market focus in the coming days will be mainly on the Russo-Ukraine war, volatility in crude oil prices and central bank policy announcement next week. Commodity prices lower. Volatility is expected to continue till the supply bottlenecks are over.”
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Foreign Institutional Investors (FIIs) bought equity worth Rs 5,590.04 crore. On the other hand, Domestic Institutional Investors (DIIs) bought shares worth Rs 5,052.50 crore.
However, in the month of March, FIIs sold shares worth Rs 43,281.31 crore and DIIs bought shares worth Rs 39,677.03 crore.
The BSE Sensex rose 2321.23 points (4.12 per cent) and the Nifty 50 index rose 670.85 points (3.99 per cent) in the month of March. However, both the indices rose 9,059.36 points (18.29 per cent) and 2,774.05 points (18.88 per cent) respectively in FY22.
Last week, around 100 smallcap stocks gained 10-25 per cent. These included Sansera Engineering, Reliance Capital, Man Industries (India), Vakrangee, Swelect Energy Systems, Centrum Capital, Birla Corporation, Deep Industries, Himadri Specialty Chemical, Welspun Corp, Gujarat State Fertilizers & Chemicals and SML Isuzu.
However, Vardhman Textiles, Future Consumer, Future Retail, Panacea Biotec, Hindustan Oil Exploration Company and Mayur Uniquoters fell 10-20 per cent.
On the other hand, if we look at the midcaps stocks, Adani Power, Hindustan Aeronautics, Abbott India, GlaxoSmithKline Pharmaceuticals, Bajaj Holdings & Investment, Tata Consumer Products, Oberoi Realty, Union Bank of India, CRISIL and Shriram Transport Finance Corporation saw gains of 7 to 42 percent. Got it
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The BSE 500 index saw a rise of three percent. In this 35 stocks gave double digit returns. These stocks included Adani Power, Vakrangee, Birla Corporation, Welspun Corp, Gujarat State Fertilizers & Chemicals, Sunteck Realty, Gujarat Alkalies and Chemicals and Mahindra Lifespace Developers.
How will Nifty move next week (Where is Nifty50 headed)
Anmol Athawale of Kotak Securities
Anmol Athawale said that the current texture is likely to continue till the index slips below 17450 or the 10-day Simple Moving Average (SMA). Above this we can see Nifty touching the level of 17800. If it rises further, the index can also go up to the level of 17935.
On the other hand, the 10-day SMA or 17450/58400 will be a key level for the positional traders. If below this, the index can slip to the level of 17350-17200.
Manish Shah, independent technical analyst opinion
Manish Shah said that we expect the market to continue to move upwards in the coming week. If it goes up then it is very likely to see a rally towards 18000-18100.
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At present, support is being seen on Nifty at 17400. As long as Nifty stays above 17400 we can expect the market to continue the upward movement. Traders should trade with the bullish trend in the market.
(Disclaimer: The views and investment advice given on moneycontrol.com are the personal views and opinions of investment experts. Moneycontrol advises users to consult a certified expert before making any investment decision.)
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