Weekly Trend Report
Week Gone By
- In the week ended on Friday, 24 November 2023, the S&P BSE Sensex gained 175.31 points or 0.27% to settle at 65,970.04. The Nifty 50 Index added 62.90 points or 0.32% to close at 19,794.70.
- The BSE Mid-Cap index rose at 0.69% to 33,610.39.
- The BSE Small-Cap advanced 0.53% to end at 39,807.29.
- Overseas, China will announce the NBS Manufacturing PMI for November on 30th November 2023.
- China will announce the Caixin Manufacturing PMI for December on 1 Dec 2023
- The US ISM Manufacturing PMI data for November will be announced on 1 December 2023
The 50 index witnessed a muted opening for the week and consolidated in the range of 204 points with a declining volume trend throughout the week. The zone of 19800-850 continued to act as a strong supply zone and fended off the bulls throughout the week while on the derivative front, 19800 CE mounted the highest open interest. The VIX continued to trade at lower levels and closed in the proximity of its previously weekly range. All in all, it will be crucial for the index to decisively reclaim this zone to attract further bullish strength.
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