The past week featured significant developments at both the company and economy levels. Major banking institutions unveiled their quarterly financial results, with HDFC, the largest private sector bank, presenting a mixed set of figures. This led to a substantial 4.28% decline in the Bank Nifty on Wednesday. In the week gone by bank nifty witnessed its biggest weekly fall in a year. Despite the Nifty reaching an all-time high of 22,124 on Tuesday, it faced setbacks due to the Bank Nifty's performance. On the macroeconomic front, India's trade deficit exhibited positive performance, hitting a three-month low. The Nifty50 concluded the week with a 1.47% decline. Overall, the financial landscape witnessed fluctuations driven by corporate reports and macroeconomic indicators, influencing market indices and trading sentiments throughout the week.
Scroll down to understand more of such market news and perspectives for the week gone by in easily understandable charts.
The historical data below touches upon the concept of whether Nifty can cross the levels of 22500 in a month.
Foreign Institutional Investors (FIIs) net invested Rs.3,433 crore in the first half of Jan’24. The investment pace has seen a decline when compared to the past 3 fortnightly investments.
OFSS has zoomed past its previous resistance supported by surge in volumes and long buildup in Future Open Interest (OI) data.
ICICIGI has given a trendline breakout on the daily chart. The price retested the trendline support and bounced back.
APOLLOTYRE has given a resistance breakout on the daily chart. The level of 475 is likely to act as strong support for the stock.
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