Where is the market headed?
Today’s trading session on the 14th of August was calm and uneventful, as the market seemed unwilling to take any big steps before the upcoming three-day holiday. With a short four-day week and a long weekend ahead, traders chose to stay cautious.
Major news is expected after the meeting between Russia and the US on the 15th, which may explain why no one wanted to take unnecessary risks.
From a weekly perspective, this week has ended on a positive note compared to last week. After six straight red candles on the weekly chart, we finally have a green candle, breaking the losing streak. Whether this is the start of a recovery or just a temporary bounce will be seen next week.
Market Overview
Nifty gained a modest 0.05% today.
Nifty Next 50
Nifty Junior remained higher compared to last week’s close, ending the day at -0.17%.
Nifty Mid and Small Cap
Midcaps were down 0.24% and small caps lost 0.43%, showing some weakness.
Bank Nifty
The Bank Nifty has been interesting — the last four trading days have been “inside days” within last Friday’s big move. This usually means a sharp breakout is coming soon, either up or down.
GOLD
Gold, on the other hand, is showing a flag-like pattern, closing today at ₹10,013 per gram with no significant movement.
Advance Decline Ratio
Market breadth was flat, with declines slightly outweighing advances at 304 to 195.
Heat Maps
In the Nifty space, SBI Life, HDFC Bank, Infosys, and Maruti saw gains, while ITC, Reliance, and Tata Steel moved lower.
Movers Of The Day
Muthoot Finance was a strong mover after excellent results, hitting new highs as gold loan demand surged. Deepak Nitrite saw little impact despite a profit drop, as the market had already priced in the news.
Sectoral Overview
Sector-wise, it was a mixed bag. IT, Banking, and Financial Services saw small gains, while Metals (-1.4%), Commodities (-0.9%), Energy (-0.8%), FMCG (-0.6%), and Oil & Gas (-0.9%) slipped.
Sector of the Day
Nifty Metal Index
In Metals, NMDC, Tata Steel, SAIL, Jindal Steel, and Vedanta all lost ground.
Tweets Of the Day
Two notable macro updates stood out. First, gold prices in USD are in a tight consolidation since April, suggesting a sharp move is coming — either up towards $3,700–$3,800 or down towards $3,500.
Second, India recorded its second straight month of wholesale deflation, which, while sounding good in the short term, is actually worrying as it reflects weak growth, stagnant credit, and limited private investment. Prolonged deflation can quickly lead to a recession.
