Indian stock market gained all the trading sessions in the last week. Nifty gained 356.80 points and closed at 11661.85 whereas Sensex zoom 1171.30 points and closed at 39298.30. Both Sensex and Nifty gained around 3% in the last five trading sessions.
Stocks, Index in news in Indian markets last week
Bank Nifty also gained 1077.75 points in the last week and closed at 29120.25. Nifty midcap 100 index gained the most in the last week, it gained 620.25 points or around 4% and closed at 16213.55. Nifty smallcap 100 index was up 166 points and closed at 5567.55.
The top five gaining stocks in the news in the Indian market last week were Yes Bank, Tata Motors, Eicher Motors ONGC, and IndusInd Bank. The only losing stock in the Nifty50 was Infosys.
Almost all the sectors gained in the last week Auto, Banks, Infra, FMCG, Metal, Pharma were the major gainers. FIIs are back in the last week, FIIs bought Rs 3213.17 crores in cash segment. DIIs were also net buyers in the cash segment bought Rs 2184.81 crores.
Reasons for strong positive market last week
Markets extend gains on US-China trade deal signing news
The Brexit deal had fueled the market last week and helped Nifty to close above 11550 marks.
The positive Q2 Earnings of HUL, Wipro, TVS Motors
Buying spree of FIIs continuously for the last 6 days.
Stocks in News in Indian Market
IRCTC has made a strong debut last week. It has debuts at Rs 626 in NSE and rallied more than 125% on the first day.
Metal share gains after China confirms the signing of ‘phase one’ trade deal with the US. All metal counter like Vedanta, Jindal Steel, Tata Steel, SAIL, NMDC gained last week.
Bandhan bank gained last week on the news of its inclusion in the MSCI Global Standard Index, under the large-cap segment from 16th Oct 2019.
Saudi Armco is interested in buying the government’s 53.3% stake in BPCL. The share price of BPCL gained last week on the news.
The industrialist Sunil Mittal and Sunil Munjal have shown interest in acquiring a stake in Yes Bank. The share price of Yes Bank zoomed almost 16% on the news in intraday and it is the top gainer in last week Nifty 50 stocks.
The government likely to lower down its stake in BHEL, the news has gained the share price of BHEL by 25% in intraday.
Reliance Industries has become the first Indian company to hit Rs 9 Lakh crore market capitalization. RIL has touched 52 weeks high od Rs 1428 and gained 1.42% on Friday.
Last weeks Q2 Report
HUL has reported a 21% rise in Q2 profit to Rs 1848 crore for the quarter ended 30th Sept 2019. The last year’s profit for the same period was 1525 crores. It beats the street estimates and the market reacted positively.
Wipro has announced good sets of Q2 numbers. It has reported a 36% YoY rise in consolidated net profit st Rs 2561.30 for the sept end quarter. Last year for the same period the profit was Rs 1885.70 crores. On a sequential basis, profit was up 6.2% and the market reacted positively to Wipro’s number.
TVS Motors has also posted good Q2 numbers and this time it is better than expected. The company reported a 21% growth in profits YoY basis to Rs 255 crores. The street reacted positively to TVS Motors Q2 numbers.
Indian market next week
Indian market will be closed on Monday 21st Oct on account of the Maharashtra Assembly election. Market on Tuesday will react to RIL, HDFC Bank and Axis Bank Q2 results. RIL and HDFC Bank have already announced the result.
RIL has reported an 18.3% YoY increase in net profit fro the sept end quarter to a record of 11,262 crores. The RIL’s result is backed by a strong performance by the retail and digital services business
HDFC Bank on Saturday, 19th Oct, reported a 27% rise in standalone net profit at Rs 6345 crore for 30th Sept end the quarter. The bank had reported Rs 5006 crore profit in the same period last year.
The net interest income (NII) was Rs 13,515 crore against Rs 11763 crores in the same quarter last year. The provision has increased by 48%, including a specific loan loss of Rs 2038 crores. The provision can be a concern for the market.
On Saturday there was news of a delay in Brexit, this can again trigger a temporary negative sentiment in the market. The Indian market can take it negative and we may see some correction on Tuesday. Again everything depends on the global market’s reaction tomorrow.
Technical levels of Nifty and Bank Nifty from 22nd to 25th Oct
The nifty share price target in futures for 22nd Oct 2019
Primary Trend Nifty Futures: Mild up
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 11750 whereas All Down Moves Initiates Short Covering (Buy) @ 11500
If Nifty Futures Moves Above 11694 and sustain. Then you should Buy with 1st Target of 11727 during the day or in a week with a Stop Loss of 11639 FOR the Target of 11727- 11755- 11782- 11840
If Nifty Futures Moves Below 11639 and sustained. Then you should Sell with 1st Target of 11610 during the day or in a week with a Stop Loss of 11694 FOR the Target of 11610- 11582- 11550- 11497.
Bank Nifty share price target in futures for 22nd Oct 2019
Primary Trend of Bank Nifty Futures: Mild up
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 29500, whereas All Down Moves Initiates Short Covering (Buy) @ 28850
If Bank Nifty Futures Moves Above 29225 and sustained. Then you should Buy with 1st Target of 29315 during the day or in a week with a Stop Loss of 29070 FOR the Target of 29315 - 29420 - 29525 - 29650
If Bank Nifty Futures Moves Below 29070 and sustained. Then you should Sell with 1st Target of 29018 during the day with a Stop Loss of 29225 FOR the Target of 29018- 28920- 28838 - 28776
Conclusions:
Indian market will be a holiday on 21st Oct Monday due to Maharashtra Assembly Election. Markets will have only four trading sessions next week ahead of Diwali Muhurat Trading. On Tuesday market will react on the stocks in the news in Indian Market last week are RIL and HDFC Bank. Axis Bank Q2 results and dealy in Brexit news will also have an impact on the market. Traders should follow global cues and Q2 Earnings for market trends.
You can also read, How to Choose The Best Stock Broker for Investment
Stock Market trading holidays 2019: NSE | BSE
Stock Market Outlook 2019: Nifty, Bank Nifty would touch new high
Stock Market trading holidays 2019: NSE | BSE
Stock Market Outlook 2019: Nifty, Bank Nifty would touch new high
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Finogyan Team
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