Key Highlights :
The Indian stock market ended on a muted note last week, with NSE Nifty closing flat with just a 34.75 points gain after trading in a 198 points range. The BSE Sensex also closed flat with a 0.07 per cent gain. Midcap-100 and Smallcap-100 indices outperformed the benchmark indices, with the former gaining 1.62 per cent and the latter 3.10 per cent.
Nifty Realty and Media were the top gainers in the index, with respective gains of 3.87 per cent and 3.15 per cent. On the flip side, Nifty Energy was the biggest loser with a 1.87 per cent decline, followed by Bank Nifty which was down by 0.18 per cent. The Advance-Decline ratio was mostly positive last week.
During the last month, Foreign Institutional Investors (FIIs) bought Rs27,856.07 crore worth of equities, while the Domestic Institutional Investors (DIIs) sold Rs3,306.35 crore. In the first two weeks of June, FIIs sold Rs729.95 crore, and the DIIs bought Rs1,070.78 crore worth of equities.
The Nifty opened with a gap-up opening but failed to sustain the opening gains and closed below the opening. It took support at 8EMA in the last two days and formed an inside bar on Friday. The price action of the last five days can be considered as a consolidation in nature, as it neither broke the supports nor went below the previous week’s close.
The Nifty rose for the second consecutive week after April's first week. The previous highest closing is 18,812.50pts, and the weekly highest closing is at 18,696.10pts.
It is important for investors to stay vigilant and be aware of the market movements. Technical analysis can help investors identify the right entry and exit points in the market. A thorough understanding of the market dynamics and fundamentals of the stocks is also necessary to make informed decisions and maximize returns.