Nifty
Under selling pressure through the week, Nifty falls 2.8% from all-time high
This recent correction has caused it to dip below the critical 21-day Exponential Moving Average (21EMA). The sentiment appears bearish at this point, with a key support level identified at 19,600, De said.
Nifty’s sharpest weekly fall since Feb 20
Nifty fell on September 22 but showed signs of near term bottom formation. A fall below 19645 could take the Nifty to 19460-19480 band while on rises, Nifty could face resistance at 19849 for the near term.
Nifty intra-day rises in the near term could face profit taking
Nifty could now remain in the 19,645-19,865 band for the near term. Intra-day rises in the near term could face profit taking/sell on rise, said Deepak Jasani, Head of Retail Research at HDFC Securities.
Nifty fell 2.2% in last three days amid profit booking at higher levels
Nifty continued its downward journey to close with a loss of 159 points (-0.8 per cent) at 19,742 levels, while Sensex plunged 570.60 points (-0.85 per cent) to settle at 66,230, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.
Biggest drag on Nifty will be more FII selling in response to rising dollar and US bond yields
The US GDP growth projection now stands at 2.1 per cent for 2023 and 1.5 per cent for 2024 recovering to 1.8 per cent in 2025. As the Fed chief said, “soft landing is a plausible scenario.”
Nifty down 232 points as volumes on NSE close to highest in recent times
At close, Nifty was down 1.15 per cent or 231.9 points at 19901.4, while the Sensex reported a loss of 796 points, or 1.18 per cent, to settle at 66,800.84.
Markets have given subdued returns when Nifty P/E ratio more than 22x
Currently, the P/E ratio of Nifty 50 is at 22.5x. Historically, whenever an investment has been made when the PE ratio is more than 22x, 3-year forward returns have been subdued, the report said.
ITI best performing small cap stock during the week
Brightcom Group was up 26.4 per cent, IOB was up 20.4 per cent, Central Bank was up 19.8 per cent, SJVN was up 17.7 per cent in the Nifty 250 Small Cap Index.
Auto, IT stocks lead Nifty’s surge to all-time high levels
Nifty scaled fresh life highs on Friday, rising for the third consecutive session to close at 20,192, up 89.3 points, while Sensex climbed 320 points to close at 67,838.
NTPC top performer in Nifty’s rally from 19k to 20k
After a volatile and long journey from 18k to 19k, the Nifty-50 added the next 1,000 points (19k to 20k) relatively faster — only 52 trading days (from Jul’23-Sep’23) vs. 425 trading sessions (from Oct’21-Jun’23) during its journey from 18k to 19k, as per a report by Motilal Oswal Financial Services.
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