Indian markets broke a six-week losing streak during the holiday-shortened week ended August 14, with broader indices showing strong recovery. BSE mid-cap and small-cap indices ended their three-week decline, while large-cap indices also rebounded following positive data from both India and the US, including CPI figures, inline earnings, rupee appreciation, and falling oil prices.
For the week, the BSE Large-Cap and Mid-Cap indices rose by 1% each, and the BSE Small-Cap index added 0.4%. The BSE Sensex closed at 80,597.66, gaining 739.87 points (0.92%), while the Nifty50 rose 268 points (1.10%) to 24,631.30.
Foreign Institutional Investors (FIIs) continued selling for the seventh consecutive week, offloading equities worth ₹10,172.64 crore. Conversely, Domestic Institutional Investors (DIIs) extended buying for the 16th week, investing ₹33,608.66 crore. In August so far, FIIs have sold ₹24,191.51 crore, while DIIs have purchased ₹55,795.28 crore.
Sector Performance:
- Top performers: Nifty Healthcare and Pharma indices surged 3.5%, Nifty Auto rose 2.7%, and Nifty PSU Bank gained 2%.
- Lagging sectors: Nifty Consumer Durables and FMCG fell 0.5% each.
“In the last truncated week, benchmark indices witnessed a pullback rally. Nifty ended up 1.1%, Sensex gained 748 points, with Pharma and Healthcare leading the gains. Some profit booking occurred in FMCG and Consumer stocks,” said Amol Athawale, VP Technical Research, Kotak Securities.
Technical Outlook:
Athawale noted that reversal patterns on daily and intraday charts, along with a bullish weekly candle, indicate continuation of the pullback. Key support for short-term traders is placed at 24,500/80,300, while immediate resistance lies at 24,700/80,900. A successful breakout could drive the market toward 24,900–25,000/81,500–81,800, whereas a drop below support may trigger a fall to 24,350–24,150/79,800–79,100.
The BSE Small-Cap index ended with a 0.4% gain, led by Yatra Online, which surged 55%, followed by HBL Engineering, NMDC Steel, JM Financial, Rico Auto, EIH, and VST Tillers Tractors. Major losers included PG Electroplast, NIBE, Camlin Fine Sciences, Best Agrolife, Marksans Pharma, and Action Construction Equipment.
Stock Performance: Top Movers (August 8-14)
Top Gainers (Positive Change)
- Yatra Online: 54.96%
- HBL Engineering: 27.56%
- NMDC Steel: 20.86%
- JM Financial: 20.65%
- Rico Auto: 18.28%
- EIH: 17.59%
- VST Tillers Tractors: 17.57%
- Shaily Engineering Plastics: 15.87%
- Indo Tech Transformers: 15.76%
- Dreamfolks Services: 15.70%
- Uniparts India: 15.51%
- Windlas Biotech: 15.20%
- Jain Irrigation Systems: 14.73%
- Ganesh Benzoplast: 14.45%
- KRBL: 13.77%
- InfoBeans Technologies: 13.51%
- Force Motors: 12.70%
- TGV Sraac: 12.34%
- Archean Chemical Industries: 12.11%
- Star Cement: 10.84%
- Hariom Pipe Industries: 10.82%
- Unicommerce Esolutions: 10.45%
- Healthcare Global Enterprises: 10.20%
- NGL Fine Chem: 10.13%
- Honasa Consumer: 10.01%
Top Losers (Negative Change)
- PG Electroplast: -17.48%
- NIBE: -16.99%
- Camlin Fine Sciences: -14.25%
- Best Agrolife: -13.11%
- Marksans Pharma: -12.89%
- Action Construction Equipment: -12.74%
- Hikal: -11.77%
- Forbes Precision Tools and Machine Parts: -11.69%
- Pix Transmissions: -11.65%
- Technocraft Industries (India): -11.09%
- CSB Bank: -10.95%
- Magellanic Cloud: -10.78%
- KR Rail Enginnering: -10.78%
- Faze Three: -9.92%
- Bajel Projects: -9.85%
- Praj Industries: -9.74%
- Imagicaworld Entertainment: -9.71%
- Garware Hi-Tech Films: -9.57%
- Likhitha Infrastructure: -9.17%
- Refex Industries: -8.88%
- Updater Services: -8.57%
- Ador Welding: -8.41%
- I G Petrochemicals: -8.33%
- Shiva Cement: -7.89%
- Suven Life Sciences: -7.73%
Source: moneycontrol.com
Nifty50 Outlook by Experts:
- Nagaraj Shetti, HDFC Securities: Weekly charts indicate positive reversal, with cluster support at 24,300–24,200. A sustainable move above 24,700 could open upside toward 25,000.
- Rupak De, LKP Securities: Bullish sentiment is likely as long as Nifty stays above 24,337, with resistance at 24,660 and 24,850. A fall below 24,337 may restart the bearish trend.
- Ajit Mishra, Religare Broking: Markets have digested recent negatives, awaiting a recovery trigger. Oversold positions in heavyweights support a potential upside. A break above 24,800 could spark fresh momentum, otherwise consolidation may persist.
Disclaimer: The views and investment tips expressed by experts are their own and not those of Global FinDesk. Readers should consult certified experts before making investment decisions.