-->
🏠 🔍
SHAREOLITE

3Jul23 to 7Jul23 - NIFTY50 Market review for the week

The NIFTY 50 index closed the week on a negative note, losing 147.35 points or 0.74%. The index started the week on a strong note, as investors were optimistic about the economic recovery and the easing of lockdown restrictions. The index touched a new all-time high of 19,881.45 on Wednesday, as some of the key sectors such as IT, banking and FMCG delivered strong results and boosted the market sentiment. However, the index witnessed a sharp correction in the later part of the week, as global markets turned volatile due to rising inflation and interest rates concerns. The index also faced selling pressure from the profit booking, the rise in COVID-19 cases in some states and the FII selling.

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:


 

03-JUL-2023 (Mon)
  • Nifty index - closing value: 19,322.55 , open value: 19,246.50 , day’s high: 19,345.10 , day’s low: 19,234.40 , volatility VIX: 11.65
  • Change from previous trading day: +0.40%
  • Trend: Bullish
  • Top 5 Factors which drove the market this day:
    • Positive global cues
    • Strong GDP data for Q4 FY23
    • Recovery in banking and auto stocks
    • Decline in oil prices
    • FII buying
04-JUL-2023 (Tue)
  • Nifty index - closing value: 19,389.00 , open value: 19,406.60 , day’s high: 19,434.15 , day’s low: 19,300.00 , volatility VIX: 11.38
  • Change from previous trading day: +0.34%
  • Trend: Bullish
  • Top 5 Factors which drove the market this day:
    • Positive global cues
    • Strong earnings from HDFC Bank and HCL Technologies
    • Rally in IT and pharma stocks
    • Positive European markets
    • FII buying
05-JUL-2023 (Wed)
  • Nifty index - closing value: 19,398.50 , open value: 19,405.95 , day’s high: 19,421.60 , day’s low: 19,339.60 , volatility VIX: 11.18
  • Change from previous trading day: +0.05%
  • Trend: Sideways
  • 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
06-JUL-2023 (Thu)
  • Nifty index - closing value: 19,497.30 , open value: 19,385.70 , day’s high: 19,512.20 , day’s low: 19,373.00 , volatility VIX: 10.92
  • Change from previous trading day: +0.51%
  • Trend: Bullish
  • Top 5 Factors which drove the market this day:
    • Record high US markets
    • Strong earnings from Infosys and Wipro
    • Recovery in IT and banking stocks
    • Decline in COVID-19 cases
    • FII buying
07-JUL-2023 (Fri)
  • Nifty index - closing value: 19,331.80 , open value: 19,422.80 , day’s high: 19,523.60 , day’s low: 19,303.60 , volatility VIX: 11.45
  • Change from previous trading day: -0.85%
  • Trend: Bearish
  • Top 5 Factors which drove the market this day:
    • Weak global cues
    • Profit booking at record highs
    • Weakness in FMCG and auto stocks
    • Rise in inflation and interest rates concerns
    • FII selling

Comments

–>