Weekly share market roundup

NIFTY Back To Four Digits Amid Trade War Fears. The 50-share NSE index NIFTY fell 1.15% to finish at 9998.05 on Friday.  The Indian benchmark index NIFTY tumbled over 1% in today session breaching 10,000 level for the first time since October and closed at five months low as investors all across the world shivered on trade war fears. On a weekly basis, NIFTY slumped 1.93% posting their longest stretch of weekly losses in 16 months and was back to four digits in last trading session of the week. The sentiment at traders and investors’ desk remained subdued all over the week on trade war fears, sustained foreign fund outflows and unimpressive global cues.

Looking overseas, European markets trading lower in line with Asian markets which finished broadly lower on Friday. The Global stock markets have tumbled into the red as fears over a global trade war intensified following U.S. president Donald Trump’s announcement of tariffs on up to $60 billion in Chinese imports.

Nine out of eleven sector gauges compiled by the NSE ended higher led by NIFTY REALTY, NIFTY PSU BANK, NIFTY METAL, NIFTY BANK, NIFTY PVT BANK and NIFTY PHARMA as top gainers. On the flip side, NIFTY IT and NIFTY MEDIA are top losers.

From the NIFTY 50 basket of shares, VEDL, HINDALCO, AXISBANK, YESBANK, LUPIN, and ICICIBANK underperformed as top losers while HCLTECH, INFRATEL, ADANIPORTS, ZEEL, and POWERGRID are top gainers.

Quant View

On the Index Derivatives front, FII (Foreign Institutional Investors) are unwinding long positions in the current series and adding significant short positions in the April month contract.

Top stocks to watch on Monday 26 March

AXISBANK: This stock trading volume inflated 3 times with 83% of delivery trades on Friday. There could be negative breakout as the firmness of the sellers is recognized by the unfilled gap appeared in the daily chart. This stock is trading below its recent support zone and the near term resistance is seen around Rs.545.

GAIL: This stock trading volume inflated 2 times with 76% of delivery trades on Friday. This stock is trading around the lower range of its price band and the crucial support zone is around Rs.434.

YESBANK: This stock trading volume inflated 60% with a majority of intraday trades. The strength of the bears is evident from the unfilled gap appeared in the daily chart. This stock is trading below its recent support zone and the near term resistance is seen around Rs.328.

BEL: This stock trading volume inflated 92% with 62% of the trades are the deliverable volume on Friday. The strength of the bears is evident from the unfilled gap appeared in the daily chart. This stock is trading below its recent support zone and the near term resistance is seen around Rs.157.

TITAN: This stock trading volume inflated 12% with numerous intraday trades on Friday. This stock is currently settled above the recent resistance zone as it is frequently rising for 3 days and the short term support around Rs.802.

INFY: This stock is the most active stock with 70% of delivery trades on Friday. This stock is currently trading inside the trading range and the support is seen around Rs.1136 and resistance is seen around Rs.1192.

ICICIBANK: This stock trading volume inflated 77% with 63% of delivery trades on Friday. There could be negative breakout as the firmness of the sellers is recognized by the unfilled gap appeared in the daily chart. This stock is trading below its recent support zone and the near term resistance is seen around Rs.324.

JINDALSTEL: This stock plunged by 4.96% and finished at Rs. 213.75 on Friday. This stock trading volume inflated 62% with numerous trades were settled intraday. The firmness of the sellers is recognized by the unfilled gap appeared in the daily chart. This stock is trading below its recent support zone and the near term resistance is seen around Rs.266.

UNIONBANK: This stock plunged by 8.29% and finished at Rs. 86.85 on Friday. This stock trading volume inflated 160% with numerous trades were settled intraday. The firmness of the sellers is recognized by the unfilled gap appeared in the daily chart. This stock is trading below its recent support zone and the near term resistance is seen around Rs.109.