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The market got no time to rest post the tedious earnings season as two important macroeconomic data points were released last week. In the month of July India reported a CPI of 7.44% - which is now the highest in 15 months. This spike in inflation was driven majorly by vegetable inflation. The government also reported its trade figures for July and we saw the trade deficit widen.It stands at 20.67 bn USD. We cover the top commodities India traded in July in this week’s samshot.
The Nifty 50 ended the week with a decline of 0.61%. Nifty has now closed in the red for the fourth consecutive week. The last time Nifty closed in the red for four consecutive weeks was during the 17th Feb – 16th Mar 2020 Covid period.
Scroll down to understand more of such market news and perspectives for the week gone by in easily understandable charts.
The table below covers a list of 12 companies where Promoters, FIIs and DIIs have all raised their stakes.
ESCORTS broke out of the 2500-2600 consolidation phase and moved up swiftly with spike in volumes and Long Buildup in Future Open Interest data.
OFSS gave a double top breakout from the 4000 levels on the daily chart. The stock has been moving in a higher high higher low structure.
CONCOR broke its key support level of 660 on the daily chart with a spike in volumes. The stock also closed below the 50-Day Exponential Moving Average.
Image Source: @brianferoldi (Twitter)
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