NIFTY 50 index closed the week on a positive note, gaining 208.60 points or 1.06%. The index started the week on a weak note, as investors were cautious ahead of the Q1 FY24 earnings season and the global developments. The index recovered in the later part of the week, as some of the key sectors such as IT, banking and FMCG delivered strong results and boosted the market sentiment. The index also got support from the positive global cues, the decline in COVID-19 cases and the FII buying.
The following bullet points summarize the daily performance of the NIFTY 50 index for the week, along with the open value, day’s high, day’s low and volatility VIX for each day:
10-JUL-2023 (Mon)
- Nifty index - closing value: 19,355.90, open value: 19,400.35, day’s high: 19,435.85, day’s low: 19,327.10, volatility VIX: 12.45
- Change from previous trading day: -0.23%
- Trend: Sideways
- Top 5 Factors which drove the market this day:
- Weak global markets
- Profit booking in metal and pharma stocks
- Concerns over rising inflation and interest rates
- Weakness in auto and energy stocks
- DII selling
- Nifty index - closing value: 19,439.40, open value: 19,427.10, day’s high: 19,515.10 , day’s low: 19,406.45 , volatility VIX: 12.18
- Change from previous trading day: +0.43%
- Trend: Bullish
- Top 5 Factors which drove the market this day:
- Positive global cues
- Strong earnings from TCS and IndusInd Bank
- Recovery in IT and banking stocks
- Decline in oil prices
- FII buying
- Nifty index - closing value: 19,384.30 , open value: 19,497.45 , day’s high: 19,507.70 , day’s low: 19,361.75 , volatility VIX: 11.92
- Change from previous trading day: -0.28%
- Trend: Bearish
- Top 5 Factors which drove the market this day:
- Mixed global markets
- Profit booking at higher levels
- Weakness in metal and energy stocks
- Rise in COVID-19 cases in some states
- DII selling
- Nifty index - closing value: 19,413.75 , open value: 19,495.20 , day’s high: 19,567.00 , day’s low: 19,385.80 , volatility VIX: 11.65
- Change from previous trading day: +0.15%
- Trend: Sideways
- Top 5 Factors which drove the market this day:
- Record high US markets
- Strong earnings from Infosys and Wipro
- Rally in IT stocks
- Positive European markets
- FII buying
- Nifty index - closing value: 19,564.50 , open value: 19,493.45 , day’s high: 19,595.35 , day’s low: 19,433.50 , volatility VIX: 11.38
- Change from previous trading day: +0.77%
- Trend: Bullish
- Top 5 Factors which drove the market this day:
- Positive global cues
- Strong earnings from HDFC Bank and HCL Technologies
- Recovery in banking and pharma stocks
- Decline in COVID-19 cases
- FII buying