Finblab Research: Indian Stock Market Weekly Analysis

Super-Duper hit week as far as Indian Stock Market is concern!

Without fearing of higher crude oil prices, ignoring US stance on Iran and various other news factors, the Indian Stock Market continues to surge higher purely led by domestic news.

The BSE Sensex gained 621 points whiles the NSE Nifty gained 188 points on a weekly basis as compared to previous week. Here is an Indian Stock Market Weekly Analysis (07 May 2018 to 11 May 2018) by Finblab.

07-MAY-2018

• Superb trading session as far as Indian Stock Market is concern!
• After having a couple of bad trading sessions (Thursday and Friday) of last week, the market began its journey on Monday on a positive note, with the Sensex opening more than 100 points higher, while the Nifty managed to trade around 10,650-mark.
• After trading around those levels for the major part of the day, the markets witnessed further buying in the afternoon session thanks to the positive global cues especially from the US unemployment numbers which comes at 18 years low. The US Fed decision not to hike interest rates also added the fuel.
• Today, the Reserve Bank of India (RBI) announced a surprise buyback of bonds worth INR 10,000 Cr which has helped both the NBFC and PSU banks stocks to post solid gains.
• The BSE Sensex was up 293 points to close at 35208, while the NSE Nifty was up 97 points and closed at 10716.

08-APR-2018

• The Indian Stock Markets ended flat on Tuesday’s trading session!
• After closing firm (above 35,200 levels) on Monday, the Indian Stock Market on Tuesday ended on a flat note, with the nifty again managing to hold 10,700 levels.
• Again today, the BSE index gained more than 100 points in the first hour of trade, while the Nifty gained momentum to over 10,750 levels. But in the absence of major news the bulls were not able to get the momentum and both indices turned red in the afternoon trade before thanks to some recovery in the last half an hour of trade helped the indices ended flat.
• The BSE Sensex ended up 8 points at 35216, while the NSE Nifty closed higher by 2 points at 10718.
• Jubilant Foodworks today announced its Q4 numbers after the market hours where the company posted a net profit of INR 68.1 Cr against INR 6.7 Cr posted during the quarter of last year. The firm posted stellar growth of 27% in its revenues to INR 780 Cr against INR 612.8 Cr YOY. The company’s Board today approved a bonus issue in the ratio of 1:1

09-APR-2018

• Solid trading session at the Indian Stock Market!
• After closing flat on a Tuesday’s session, the Indian Stock Markets began on an absolutely flat note today as well and it actually managed to trade in the red for a brief period. But a smart recovery in the heavyweights like TCS and RIL pushed up indices in the last couple of hours of trade.
• The Sensex is up 103 points to close at 35319, while the Nifty was up 24 points to close at 10742.

10-APR-2018

• Weak trading session at the Indian Stock Market!
• After steady gains on Wednesday, the Thursday began on a positive note as the Sensex opened 100 points higher, while the Nifty too traded above 10,750 levels. But again the heavy selling pressure among banks, metals and pharma stocks pulled the indices through the afternoon.
• At the close of market, the Sensex was down 73 points at 35246, while the Nifty ended lower by 25 points at 10717.
• Asian Paints today announced its Q4 numbers after the market hours. For the entire fiscal 2017-18, the company’s consolidated net profit stood at INR 2,097.52 Cr as against INR 2,016.25 Cr in 2016-17. Total income of the company was INR 17,482.52 Cr for the fiscal under review, compared to INR 17,118.98 Cr in 2016-17.

11-APR-2018

• Fantastic trading session as far as Friday is concern!
• Markets continue to rally on Friday thanks to the positive global cues. A sharp rally in the financials, metals, and FMCG stocks, especially in the last hour of trade, ensured that the market managed to close the week with very good gains.
• At the close of market hours, the Sensex was up 290 points to close at 35536, while the Nifty was up 90 points at 10807.

Indian Stock Market Weekly Analysis – A Week Gone By

Future Outlook –

The Indian Stock Markets witnessed a handsome gain on the week ended on 11 May 2018 where the Sensex was up by more than 600 points and the Nifty was up by more than 180 points backed by corporate earnings or anything else.

Going forward it is likely that the Indian Stock Markets could witness heavy volatility as it is the time for Karnataka election and it may be a big test for the BJP ahead of 2019 General Election and later on its outcome. But looking at the current trend it feels like that the ruling party at the centre will have upper hand when the result announce. Let’s wait till then.

On the technical front, the Nifty may find some resistance near 10,785 and 10,815 levels and on the lower side it can find support somewhere around 10,450 to 10,500 levels.

Higher crude oil is a reason to worry as far as India is concern and it could create some problems going forward.

Also Read –

1) Finblab’s Valuepick Stock for the month of May – GMM PFAUDLER LIMITED

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