Nifty’s Hot Streak Continues Ahead of Union Budget

The Indian markets had a stellar week! Nifty 50 kept its hot streak alive, hitting a new all-time high for the 7th week in a row. Bank Nifty wasn’t far behind, also reaching new peaks led by HDFC Bank. Sectors like telecom, defense, railways, and pharma, garnered significant attention, especially with the July 2024 budget around the corner.
Midcap and small-cap stocks were on fire, hitting new all-time highs. IT stocks and private banks saw some selective buying as everyone geared up for the Q1FY25 results next week. Overall, the market buzzed with optimism, making it an exciting week for investors.
Nifty 50 ended the week 1.30% higher at 24,324. Nifty IT and Nifty Pharma surged the most with gains of 4.32% and 3.66% respectively.
Scroll down to understand more of such market news and perspectives for the week gone by in easily understandable charts.

Stocks

The chart highlights the best-performing SmallCap and MidCap companies over the past month, following the election results announced on June 4, 2024.

Here’s how pharma stocks reacted to the budget expectations!

Sales volumes for top two-wheeler Auto OEMs in June 2024 and Q1 FY25 are presented below

Sales volumes for top PV and CV OEMs in June 2024 and Q1 FY25 are presented below:

Force Motors’ domestic and export volume change for June 2024 and Q1 FY25 are presented below:

The brokerage companies faced a bear hammering after SEBI’s circular on charges levied by Market Infrastructure Institutions (MII’s) which is likely to impact the profitability of brokerage companies.

Here’s a list of mega-cap companies trading at low valuations

The below chart shows a performance update for Q1FY25 of Yes Bank.

Below is the operational update of D Mart for the quarter ending Q1FY25

The chart below shows the Q1FY25 production update for Vedanta Limited

Coal India Ltd. achieved coal production of 63 million tonnes in June 2024, marking approximately 8% YoY growth.

The graph displays the Y-o-Y performance Of Steel Strip Wheels for Q1FY25

The chart displays the best and worst-performing Nifty 50 stocks in Q1FY25

Indices

The chart below displays the time taken by the Sensex to achieve each 5,000-point milestone as it progressed from 55,000 to 80,000.

Here’s how Nifty Pharma performed in Q2 of the previous 10 financial Years.

Presented below how each sector has contributed to the rise of the Sensex to 80,000

The momentum has started picking up in the IT sector as the market builds up rate-cut expectations

Despite significant volatility, major indices concluded the month with notable gains. Nifty IT demonstrated strong performance, while Nifty PSU Bank faced considerable pressure throughout the month.

The below chart represents the past 10 years’ average performance of Indices in July

Presented below are the returns of sectoral indices for the past week

Presented below are the returns of strategy indices for the past week

July month’s Nifty futures were trading at the lowest premium observed in the past year

Economy

The Indian Manufacturing Purchasing Manager’s Index (PMI) rises in June to 58.3 from 57.5 in May. However, the PMI has been above 50 for the 34th straight month.

The services PMI has been above 50 for the 35th straight month. Employment saw its fastest growth since August 2022, with job creation reaching a 22-month high, reflecting a mix of short-term and permanent hires across junior, mid-level, and senior positi

Fund Flows

The below chart shows the highest & lowest sectoral investment made by FPI in the latest fortnight

The sectors shown in the chart have witnessed consecutive 4 fortnightly inflows of FPI money

The sectors shown in the chart have witnessed consecutive 4 fortnightly outflows of FPI money

The below chart presents the highest & lowest percentage inflow of investment in the latest fortnight compared to the previous period AUC (Asset Under Custody) of FPI’s.