Market Metrics: Weekly Roundup
Sensex 66,009.15 ⬇️
Nifty 19,674.25 ⬇️
Bank Nifty 44,612.05 ⬇️
Nifty Smallcap 12,476.25 ⬆️
Nifty Midcap 100 40,139.15 ⬇️
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Market Performance Key Takeaways
1. Sensex extends losses to 4th day, falls 221 points; Nifty below 19,700.
2. Nifty closes 159 points lower, forming a bearish candle with an unfilled opening gap, suggesting that the prevailing trend may persist for an extended period.
3. INR rose about 16 paise to close at 82.93 against USD.
4. Several mid and small-cap stocks make notable moves by crossing their 20-day SMA, signalling potential positive developments.
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News Highlights For The Week
1. Akasa Air secures approval for international flights in South Asia, Southeast Asia, and the Middle East, aiming to begin operations by year-end despite pilot shortages.
2. India’s Nifty and Sensex indices declined for a third consecutive day, driven by IT stock slumps and U.S. Federal Reserve inflation concerns, with a 2% dip in the banking sector.
3. Inclusion in JPMorgan’s GBI-EM improves India’s chances of entering the Bloomberg Global Aggregate Index, potentially bringing $15–20 billion in inflows.
4. Apple became India’s top smartphone exporter with a 49% market share in the June quarter, credited to its premium product line and local manufacturing under PLI.
5. SIDBI plans a ₹10,000 crore rights issue to enhance equity capital, aiming for ₹5 lakh crores in assets by March 2024, driven by rising demand for direct financing.
Disclaimer:
1. This blog is exclusively for educational purposes.
2. The securities quoted are exemplary and not recommendatory.
3. Investments in securities market are subject to market risk, read all the related documents carefully before investing.
Sources:
Livemint
Economic Times
Business Standard
Money Control
Business Standard
Economic Times
Date: September 22, 2023
