How are the Markets Looking ?
We’re looking at Nifty closing at 20,900, just slightly below the previous close. Interestingly, there’s no major profit-taking yet, despite the market being in solid hands after a run-up of a thousand points. One would expect a pullback of a couple of hundred points, but it hasn’t happened so far.
Nifty Heatmap
Looking at the Nifty heat map, it’s a mixed bag today. There was noticeable profit-taking in some sectors like FMCG. L&T and LTIM lost some ground, and steel stocks also dipped. Infosys saw a decrease of 0.6%, with others remaining more or less quiet. On the flip side, energy stocks continued their strong run, up 17% in one month, while PSE was also up by 1%, totaling a 19.5% increase in the same period. Pharma stocks also made good gains at 0.8%, amounting to 6.7% in one month
Sectoral Overview
Overall, most sectors have performed well this month and in the last three months, with real estate, PSEs, and energy stocks leading the way. Over twelve months, most sectors look positive.
Mid & Small Cap Performance
The Mid Cap index hit another new high, closing at 44,495, and the Small Cap 250 also reached a new high. There’s so much bullishness in the market, and it’s uncertain how far this will go. A common mistake people make is to sell their losers early. Let the stock tell you when it’s losing steam. It’s crucial to figure out a non-emotional strategy for following your winners and cutting your losers short.”
Bank Nifty Overview
Nifty Bank closed the gap in the morning, coming back strong at 46,841, just below the all-time high. The FMCG sector, although it faced heat today, has come off from the highs, closing at 54,173
Highlights – Nifty PSE
Public sector enterprise stocks are going bananas, moving from 5,600 in late October to 7,350 now. Energy stocks have also seen an amazing run, soaring from 26,000 to 32,000 in just a few weeks. This reflects the market’s confidence in the government’s focus on the energy sector
Highlights – Nifty 200 Index
Nifty 200 as an index is also performing quite well. In fact, compared to Nifty, CNX 500, and Bank Nifty, it hasn’t seen a red candle in the last eight sessions. There’s a remarkable growth push in Nifty 200 stocks, closing today at 11,348.
If you have any questions, please write to support@weekendinvesting.com
