Equity Market Tips: Equity Market Weekly Outlook Research Report

NIFTY 50 10066.40 (51.90) (0.51%)

Indian Benchmark Index started a week on a positive note. The Nifty opened at 10050, made an Intraday high of 10112 and make a low of 10048 and closed at 10102. Bank Nifty made a fresh all time high of 25168. This is the first time the Index closed above the psychological level of 25000.The Index opened at 24881 and closed at 25104. on Monday. On Tuesday, A flat trading session witnessed due to ongoing RBI’s policy meets which may bring a see-saw move in the markets. Nifty 50 was traded range bound Nifty closed at 10114, up 38 points. On Wednesday, Lack of movement was there in the market due to the RBI’s quantum of policy rate cut. The decision to lower the rate by 25 bps to 6% was already factored in. They added that no change in cash reserve ratio left the markets cold too. This is the first rate cut since October 2016.The Nifty scaled a fresh new peak at the outset and made an all time high of 10138. However, it tripped and settled down 33 points, at 10081. On Thursday, Nifty made a high of 10081 and closed at 10014 after making a low of 9998.The index ended lower by 68 points. On Friday, The nifty is trading below support level 10000. Nifty has opened at 10009 made a high of 10075 & came down to 9988 level and closed at 10066. The benchmark Index Nifty50 (spot) opened the week at 10034.75 made a high of 10137.85 low of 9988.35 and closed the week at 10066.40. Thus the Nifty closed the week with a gaining of 51.90 points or 0.51%.