Where is the market headed?

The market continues to slump slightly, especially on the front end. FIIs in the Nifty are still engaging in some selling. The situation between Russia and Ukraine remains uncertain, particularly regarding the potential deployment of nuclear weapons.

Overall, the market appears to be awaiting Friday’s RBI rate cut decision. A 0.25% (25 basis points) cut is largely priced in, while a 50 basis points cut would come as a surprise. There is anticipation around whether the new RBI Governor will bring unexpected measures.

Market Overview

Nifty is currently down by 0.7%.

Nifty Next 50

Nifty Junior is also down, forming another bearish engulfing candle, declining by 0.55%.

Nifty Mid and Small Cap

Mid caps are down 0.36%, which is relatively moderate.

Small caps are up 0.1%, highlighting a clear difference between front-end indices and smaller indices.

Bank Nifty

Bank Nifty remains stalled, showing little movement over the past six weeks. Since mid-April, it has been trading within the same range, awaiting a key event—likely the upcoming rate cut. The current level stands around 55,600.

GOLD

Gold surged significantly yesterday and is currently trading near ₹9,786 per gram.

Advance Decline Ratio

The market opened with strong advances and very few declines but reversed during the day. It is now at 183 advances and 316 declines.

Heat Maps

There is virtually no green on the Nifty, with only some gains in the auto sector, notably Mahindra and Bajaj Auto. Red dominates, though declines remain moderate, mostly between 0.5% and 1%. Adani stocks faced further selling amid renewed concerns in U.S. courts. Power stocks, which were up yesterday, are down today, with Power Grid and NTPC slipping. FMCG is also gradually weakening. Overall, it has been a lacklustre day for Nifty.

In the Nifty Next 50 space, gains were seen in Indigo, United Spirits, DMart, Pidilite, PNB, Lodha, and Siemens, while Varun Beverages, Godrej Consumer, Adani stocks, ICICI Prudential, Hyundai, and TVS Motor faced losses.

Sectoral Overview

Sectoral trends show real estate leading the day with a 1.2% gain, followed by defense at 1.1%, and capital markets also performing well. These three sectors have consistently done well over recent days. Weekly gains stand at 3.9% for real estate, 6.7% for capital markets, and 1.7% for defense, which has surged 25% over the past month.

In contrast, central public sector enterprises, energy stocks, and private banks all lost ground today, with some significant declines in the private banking segment.

Sector of the Day

Nifty Realty Index

In the real estate sector, Sobha, Brigade, Prestige, Phoenix Mill , and Oberoi Realty performed very well, signalling a strong comeback for the sector.

Nifty Private Bank Index

Bank surged dramatically yesterday on rumours of a significant strategic partner entering, but the bank has since denied this, resulting in a sharp 10% decline. IDFC First Bank, Bandhan Bank, IndusInd Bank, and RBL Bank also fell today. The banking sector remains stuck, largely due to mounting pressure in the global banking environment as yields continue to rise, rather than local factors.

Story of the Day: True Wealth

What is the true meaning of wealth? The definition varies from person to person—shaped by mindset, age, life stage, and individual aspirations. It is a broad concept with no absolute right or wrong answers. The perspective shared here reflects one possible way of interpreting it, though it may not apply universally.

Traditionally, wealth is associated with material accumulation—money in the bank, stocks in the demat account, properties, luxury goods, cars, yachts, and planes. It is often linked to financial security, freedom, and social status, particularly in a world where public perception and societal judgment hold significant sway. For some, external validation matters deeply; for others, it is of little consequence.

A sense of wealth often arises when personal expectations are exceeded, suggesting that progress is being made in meaningful ways. Another profound source of wealth lies in human connection. For instance, when individuals share that their association with a particular platform changed their perspective on investing or helped them achieve tangible financial goals—such as saving for a child’s wedding—that creates an emotional wealth that goes far beyond monetary returns. Gratitude, respect, and heartfelt appreciation are intangible rewards that contribute richly to one’s sense of fulfilment.

The concept of a happiness baseline is essential. Most people experience cycles where happiness returns to a set point, regardless of earnings or lifestyle upgrades. While increased income can elevate happiness when basic needs are unmet, beyond a certain point, material upgrades—whether a ₹10 crore home or a ₹50 crore home—often have little impact on sustained joy. Life eventually teaches this: lasting happiness tends to come from non-material sources.

This realisation encourages a shift in focus—from accumulating things to embracing experiences. In earlier stages of life, material acquisitions may seem like the primary route to happiness. However, over time, experiences begin to offer deeper, more lasting satisfaction. Tangible goods depreciate, but memories and meaningful moments only grow in value.

The returns from experiences often surpass those from financial investments. While financial gains remain essential for fulfilling basic needs, deeper satisfaction often stems from self-development, reduced stress, improved sleep, or building emotional resilience. Strengthening social capital through networking, knowledge sharing, and community engagement adds another dimension to wealth—one based on mutual growth and enrichment.

The richest individual is not the one who has the most, but the one who needs the least. This philosophy encourages a departure from endless comparison and competition. True fulfilment comes from self-reflection—evaluating progress against one’s own expectations and striving to exceed them. That, above all, offers lasting wealth and happiness.

What defines true wealth in today’s world? Have clear long-term goals been set to pursue it? Share your thoughts in the comments below!

WeekendInvesting launches – The Momentum Podcast

Join us on The MOMENTUM PODCAST as we sit down with Venkatesh, a dynamic product manager and MBA graduate from Hyderabad. Discover his incredible journey from starting investing during the 2020 COVID crash to achieving a remarkable 5X salary jump!

In this insightful conversation, Venkatesh shares:

✅ His early investing blunders and crucial lessons learned.

✅ How he built a disciplined investing routine with Nifty index funds and direct stocks like Tata Elxsi.

✅ The surprising benefits of his IT domain knowledge in stock picking.

✅ His long-term vision for financial independence and strategic wealth building.

✅ Why he prioritizes investments and EMIs (including his home loan!) before anything else.

If you’re a young professional looking to kickstart your investment journey or seeking inspiration for disciplined wealth creation, this episode is a must-watch!