Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Market Commentary

| More

Coming week's market report - Arvinder Singh Nanda, Senior Vice President, of Master Capital Services Ltd

Posted On: 2023-12-31 23:45:12 (Time Zone: IST)


Benchmark Indices performed exceptionally well in 2023 hitting consecutive record highs. Nifty marked the 8th consecutive year of positive returns by posting impressive double-digit gains of around 18%. Nifty Small cap surged 54% and midcap more than 44%. India become a stock market superpower with market capitalisation surpassing the $4 trillion mark securing fifth position after the US, China, Japan, and Hong Kong.

Indian market started the year on an optimistic note but declined in the first two months recording negative returns in four months of 2023- Jan, Feb, Aug and Oct. But was positive in the remaining 8 months posting many record highs. Dec being the best month with Nifty surging over 7% within a month.

The market showed remarkable resilience despite the global crisis, inflation, rising crude price, peak in US bond yield, US banking crisis, rising interest rates, and global geopolitical tensions such as the Israel-Hamas War, and Russia-Ukraine war.

On the domestic front, India became the fastest-growing and the fifth-largest economy globally. RBI raised the repo rate initially in Feb to 6.5% but paused later to maintain a balance between growth rate and inflation. India's GDP growth rate was 7.6% in Q2FY24 and RBI raised its guidance for FY24 GDP to 7% from 6.3%. US Fed signaled at minimum 3 rate cuts in 2024.

The market is steeping into 2024 with record highs, In the upcoming year, major domestic and global factors will influence the market movement. Market crucial events that should be tracked in 2024 are the upcoming quarterly earnings season, the Budget and the General elections, the Fed rate decision, and the US presidential election.

The market outlook for 2024 is expected to be positive considering Positive GDP growth prospects, macroeconomic environment improving, better demand, manageable inflation, steady interest rates, robust quarterly numbers potential, and continuity of current govt.

Sensex and Nifty traded lower in the last session of 2023 amid weak cues from global peers and selling in index heavyweights. RIL, Infosys, and bank stocks were among the top index drags. Nifty settled the week at 21731.40 after making its fresh all-time high at 21801.45, while, Sensex settled the week at 72240.26 and Bank nifty closed the week at 48292.25.

Nifty is establishing new higher highs on the daily scale. Potential support levels are identified at 21,600 and 21,500, while immediate resistance is anticipated at 21,900, followed by 22,000.

Shifting focus to Bank Nifty, a break above the 48,650 level could lead to further upside, targeting 49000. Conversely, a crucial support level lies at 47800 with the possibility of the price remaining sideways in the range of 47800 to 48400.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

GIFT Nifty Sets an All-Time High Monthly Turnover of US $100.7 billion for the Month of September 2024

GIFT Nifty Sets an All-Time High Open Interest of US $20.84 billion on September 24, 2024

Unchanged Repo Rate Supports Affordability, Confidence in Housing Market

Technical Wrap - Dec 21, 2023 - HDFC Securities

Week ahead market report from Arvinder Singh Nanda, Senior Vice President, of Master Capital Services Ltd

Daily Markets Wrap - Dec 8, 2023 - HDFC Securities

Commentary on the Indian Securities Market for November 2023 - Aegon Life Insurance

Technical Wrap - Dec 8, 2023 - HDFC Securities

Daily Markets Wrap - Dec 7, 2023 - HDFC Securities

Technical Wrap - Dec 7, 2023 - HDFC Securities

Daily Markets Wrap - Dec 6, 2023 - HDFC Securities

Technical Wrap - Dec 6, 2023 - HDFC Securities

Daily Markets Wrap - Dec 5, 2023 - HDFC Securities

Technical Wrap - Dec 5, 2023 - HDFC Securities

Daily Markets Wrap - Nov 30, 2023 - HDFC Securities

Technical Wrap - Nov 30, 2023 - HDFC Securities

Daily Markets Wrap - Nov 28, 2023 - HDFC Securities

Technical Wrap - Nov 28, 2023 - HDFC Securities

View on Market Performance - Nov 24, 2023 - Mr. Deepak Jasani - Head Retail Research, HDFC Securities

Technical Wrap - Nov 24, 2023 - HDFC Securities

Views on Market Performance - Nov 23, 2023 - HDFC Securities

Daily Markets Wrap - Nov 22, 2023 - HDFC Securities

Technical Wrap - Nov 22, 2023 - HDFC Securities

Daily Markets Wrap - Nov 21, 2023 - HDFC Securities

Technical Wrap - Nov 21, 2023 - HDFC Securities

Technical Wrap - Nov 20, 2023 - HDFC Securities

Daily Markets Wrap - Nov 16, 2023 - HDFC Securities

Technical Wrap - October 3, 2023 - HDFC Securities

Weekly Market Report - Arvinder Singh Nanda, Senior Vice President - Master Capital Services Ltd

Technical Wrap - Sep 27, 2023 - HDFC Securities

Daily Markets Wrap - Sep 27, 2023 - HDFC Securities

Technical Wrap - Sep 25, 2023 - HDFC Securities

Daily Markets Wrap - Sep 22, 2023 - HDFC Securities

Technical Wrap - Sep 22, 2023 - HDFC Securities

Daily Markets Wrap - Sep 21, 2023 - HDFC Securities

Technical Wrap - Sep 21, 2023 - HDFC Securities

Technical Wrap - Sep 20, 2023 - HDFC Securities

Daily Markets Wrap - Sep 15, 2023 - HDFC Securities

Yatra Online Ltd IPO - Retail Book Subscribed 55% on Day 1, Overall Issue sees 11% demand

Technical Wrap - Sep 15, 2023 - HDFC Securities

Daily Markets Wrap - Sep 14, 2023 - HDFC Securities

Technical Wrap - Sep 14, 2023 - HDFC Securities

Daily Markets Wrap - Sep 13, 2023 - HDFC Securities

Technical Wrap - Sep 13, 2023 - HDFC Securities

Daily Markets Wrap - Sep 12, 2023 - HDFC Securities

Technical Wrap - Sep 12, 2023 - HDFC Securities

Daily Markets Wrap - Sep 11, 2023 - HDFC Securities

Technical Wrap - Sep 11, 2023 - HDFC Securities

Daily Markets Wrap - Sep 1, 2023 - HDFC Securities

Technical Wrap - Sep 1, 2023 - HDFC Securities


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020