The WeekendInvesting Newsletter is a daily newsletter that summarizes all the stories we cover during the day(market nuggets), including the daily byte that we shoot every evening. This newsletter will be delivered to your email every evening on market days, providing you with a wealth of market-related information. The newsletter includes both summaries and long-form blogs for all the market nuggets covered. These blogs are also linked to the videos we shoot, so you can choose to watch or read the content according to your preference.
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Nifty on the Daily Chart
It was a week marked by the escalation of the Iran-Israel conflict, yet the markets held their ground and remained mostly in a sideways zone. Despite the growing geopolitical tensions and the looming threat of high oil prices, the markets closed the week in a relatively stable position.
Some sectors did take a hit, but overall, the broader indices showed resilience. A key concern remains the potential blockade of the Strait of Hormuz, which could impact up to 20% of global oil supplies, triggering a sharp spike in oil prices. That remains the primary fear factor in the current scenario.
Looking at the daily chart, the week began on a strong note with a sharp rise on Monday following a dip the previous Friday. However, Tuesday through Thursday saw a pullback before Friday offered a recovery bounce. This resulted in an overall weekly gain of 1.59%.
Nifty – Weekly Chart Perspective
On the weekly chart, the index has remained stagnant for nearly six weeks, but notably, this week closed at the highest level within that range. Technically, the setup doesn’t look too bad and suggests potential strength ahead.
S&P 500 Overview
The S&P 500, on the other hand, remained flat for the second week in a row, closing down just 0.15%. The market remains near all-time highs, which is remarkable given the persistent talk of a potential recession in the U.S. This divergence between market prices and macroeconomic concerns highlights the disconnect between stock prices and the real economy—something that often confounds conventional and discretionary investors.
GOLD Overview
Gold prices declined 1.33% this week, ending at ₹9,934 per gram. Despite the dip, the broader chart setup remains quite strong, and there’s no major concern on the gold front at the moment.
Dollar Index Overview
The dollar index, which had been on a downward trajectory, gained 0.65% this week, suggesting that it may be finding some short-term stability after the recent softness.
Benchmark Indices Overview
Among the benchmark indices, Nifty 50 was the only index to post a strong gain, up 1.59% for the week. In contrast, Nifty Next 50 declined 0.3%, Nifty Midcap fell 0.6%, and the Smallcap index took a bigger hit, dropping 1.7%. The Nifty 500 ended the week up 0.59%.
Sectoral Overview
From a sectoral standpoint, the biggest losers this week were media stocks, down 3%, followed by pharma at -1.7%, and PSU banks, which lost 1.3%. On the positive side, consumption stocks were the top performers with a 2.2% gain. Infrastructure stocks rose 1.8%, private banks 1.6%, and both services and auto sectors were up 1.5%. These were the key movers contributing to the overall market stability.
Momentum score rankings remain consistent, with defense, capital markets, and private banks occupying the top three positions. Broader banking and financial services sectors also remain in strong territory. Interestingly, consumption stocks have staged a short-term comeback—a welcome sign—while IT and auto stocks are also regaining traction. PSU banks, however, have weakened in the short term, and capital market stocks have slipped from their top positions into the double-digit ranks.
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Rebalance Update
We give advance notice here on the upcoming changes in your smallcase for Monday. This advance notice can be used to ignore Monday’s update if there is no change. If there is a change indicated you can use the smallcase app or log in to weekendinvesting.smallcase.com to see the rebalance.
Note: We are not including LIQUIDBEES as an ADD or an EXIT count.
