Stock Market Weekly Report

Weekly Report: JULY 08, 2023

Weekly Trend Report

Week Gone By
  •  In the week ended on Friday, 07 July 2023, the S&P BSE Sensex jumped 561.89 points or 0.87% to settle at 65,280.45. TheNifty50index advanced 142.75 points or 0.74% to close at 19,331.80. 
  •  The BSE Mid-Cap index climbed 0.77% to settle at 28,999.02. 
  •  The BSE Small-Cap index rallied 1.62% to close at 33,129.49.
Week Ahead
  • Quarterly result updates (Q1FY24) will begin with TCS and HCL Tech on 12 July 2023 while Wipro will release its result on13 July 2023. 
  •  India’s inflation based on WPI for June will be announced on 14 July 2023. 
  • Overseas, China will announce its inflation rate for June on 10 July 2023
Technical Overview

The 50 index opened on a tepid note for the week and witnessed volatility compression in the following two trading sessions. It sawa range break on Thursday, however, the index succumbed to selling pressure on the last day of the week after recording newlife-high at 19523 and paring 220 points. The zone of 19380-19500 is anticipated to act as immediate resistance goingforwardandweekly close above the zone will attract further bullish momentum. The VIX surged 6.8% during the week and some volatility anticipated to persist in the coming week. 


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