BANKNIFTY WEEKLY SUMMARY 20 APR-24 APR 2020

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In this week, Bank nifty opened by 13 points at 21086 and reached a high of 21099 and then dropped to a low of 19002 with a big fall of 2084 points. Banks that have led the bull market over the last five years are now taking the market down to under 30 unfortunately. 35% weight age in Nifty is by banking stocks which are still looking very negative on medium and long term charts. The banks were clearly distorted. Bank Nifty fell by 45% as compared to 37% fall in Nifty. While Nifty has recovered 21%, Bank Nifty has risen 17% since then. Many of the top line shares in Bank Nifty are going to fall to the bottom. The same Nifty came close to the 9400 level, but the Bank Nifty did not cross 21,500 in mid-March, which is a clear indication that the weakness will indeed be different from the Bank Nifty. Bank Nifty is expected to reach the level of 19,500 in an instant. And if it is violated, one drop can be seen up to 18,300 and possibly as many as 17000.

SPOILED NIFTY MOOD

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The market closed down on the last day of trading in the week. A volatile session ended with the Nifty on a negative note, well below the 9,200 level. The Sensex was down 535 points at 31327, while the Nifty was down 159 points at 9154. Except Energy and pharma stock  all other indices ended lower. The financial impact of the Franklin Templeton credit crisis was most pronounced on financial and banking stocks. Due to which the Bank Nifty suffered the most weakness. Bank Nifty closed 3.4 % down at 19,585 today.  

Few stocks which buzz the most in today's trade:

MINDTREE  IT firm, recently acquired by L&T, is likely to report flat growth in revenue & profit for March quarter due to unfavourable cross-currency movement.
BRITANNIA FMCG major Britannia Industries declared an interim dividend of Rs 35 per share for 2019-20 financial year.
BHARTI INFRATEL Telecom infrastructure firm Bharti infratelnse -8.49 % reported a 7 %  increase in consolidated net profit for the March quarter .
SBI CARD SBI Cards and Payment Services has reported outstanding borrowings worth Rs 17,362.86 crore at the end of March, 2020.
TOP GAINERS-RELIANCE, CIPLA, LT, VEDL, SUNPHARMA
TOP LOSERS-INFRATEL,ZEEL, AXISBNK, HDFC, ICICIBNK

NIFTY EXTENDED GAINS

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Today on the day of the Weekly Expiry, there was a rage in the market. The Nifty has managed to close beyond 9300 today. Bank Nifty is also showing strong strength. Kotak Mahindra, TCS, ICICI Bank and HDFC BANK have energized the market. Midcap stocks have been the most action in today's business. There were also good purchases in IT, metal and finance stocks.At the same time, FMCG, Power shares were sold. The markets have closed today for the second consecutive day. Sensex has closed 484 points at 31,863 today. At the same time, the Nifty has gained 127 points to close at 9314. Bank Nifty has closed at 20,267, climbing 566 points. Reliance Industries continues to boom. The stock has reached 8 weeks on the basis of Facebook deal.  Pharma shares are in good health. LENMARK PHARMA gained 6%. LUPIN and CADILA are also trading up 3-4 %. Chemical stocks was seeing strong growth due to good quarterly results, rising demand for cheaper crude and sanitizer. Shares such as Tata Chem, Aarti Ind, Nocil and Deepak Nitrite have ranged between 3 and 5 %,but The coming days may be tough for the auto sector. Today market was getting support from ICICI, RELIANCE, KOTAK, TCS.

TOP GAINERS-TCS, INFY, ICICIBANK, ZEEL,ONGC, HINDALCO
TOP LOSERS-TITAN, GRASIM, NTPC, SBIN

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The stock market was bright on wednesday.After 2 days of decline, the markets have closed on waking up today. The rjio-facebook deal fueled the market. Ril contributed 103 points to the nifty boom. The sensex up 742 points closed at the level of 31379  today. The nifty   up 205 points closed at 9187,. Bank nifty up 293 closed at 19702, points.there was also good buying in small-medium stocks. The midcap index closed 95 points today at 12,804. Kotak, asian paints, infosys have also supported the market. The top gainer of the nifty was the dominance of shares of ZEEL and RIL.

TOP GAINERS-ZEEL,RELIANCE,UPL,MARUTI,HEROMOTOCO

TOP LOSERS-ONGC,VEDL,CIPLA,LT

NIFTY TANKS OVER

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After the US crude oil crash, Indian markets, in sync with Global markets traded negatively,Today the weakness in the market is dominating. The Sensex is down 1011 points  to close at 30636 today. At the same time, the Nifty closed at 8981 level with a weakness of 280 points . 

Bank Nifty fell 1113 points to close at 19409 due to pressure on banking shares. In today's business, there was tremendous pressure in small and medium stocks. Except pharma, all other sectors have seen a steep decline. All 12 stocks of Bank Nifty were sold. 43 out of 50 stocks of Nifty were sold. At the same time, 27 out of 30 stocks of Sensex were sold. HDFC Bk, ICICI Bk were seeing more pressure. Divsi Lab looks towards life time high. Arvindo Pharma is also seen at the height of 7 months along with Upper Circuit. All sector indexes except pharma were visible in red mark.

TOP LOSERS-INDUSINDBANK, BAJAJ FIN, ICICIBNK, HINDALCO, ZEEL

TOP GAINERS- DR REDDY’S, INFRATEL, BHARTIARTL, HEROMOTOCO, CIPLA

WILL ALL STOCKS ROCKET IN QUARTERLY RESULTS ?

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We can’t expect that all stock will perform well after there quarterly results.we see From an investor’s perspective, valuations have come down. Only some stocks collated more than 100 % or double net profit in the March quarter on a YoY basis:

In DR.REDDY sees more than 100 % growth in the net profit for Dr. Reddy’s Laboratories YoY.  led by new launches

In  JSW  sees nearly 300 % growth in the net profit for JSW Energy YoY.

In TORRENT PHARMA  sees over 200 % growth in the net profit for Torrent Power YoY.

The net profit of HCG to grow by over 100 % YoY. “We expect revenues to increase by 9% YoY led by 8% YoY growth in mature centers along with a ramp-up of newly set up facilities, The moderation of revenue growth is driven by the impact of the COVID-19 lockdown.

Today's results of ICICI PRU have been postponed.  In this week some more stock will  announce  there quarterly result like RIIL,MINDTREE,AMBUJACEM,ICICI PRU .