The Nifty 50 remained flat for yet another week and gained 0.17%. The Week was filled with important macroeconomic as well as company specific events. The MPC decided to keep the repo rates unchanged at 6.5% and hinted that the rates could be paused for longer. The India’s Services PMI index fell in May after rising to a 13-year high in April. The Nifty IT index remained under pressure, we cover the reasons in this week’s samshots. We also cover the performance of Paints stocks in Q4 and an underrated parameter to judge a Bank.
Scroll down to understand more of such market news and perspectives for the week gone by in easily understandable charts.
IEX tumbled more than 20% on the back of reports that the Power Ministry has directed CERC to initiate the process of consultation and implementation of “Market Coupling” method for spot power trading.
The table below shows a list of companies in which promoters, FIIs and DIIs increased stakes in Q4FY23.
The below chart indicates deliverable volume witnessing a surge in La Opala RG Ltd. and Mazagon Dock Shipbuilders Ltd. compared to the average deliverable volume.
India’s Services PMI which has been above 50 for 22 consecutive months fell in May’23 after rising to a 13-Year High in April.
ICICIPRULI is showing signs of reversal after successfully negating the lower swing high formation with the breakout.
NTPC has broken out of the 182 double top resistance with Long Buildup Support. However, a strong closing above 185 is needed for the breakout to sustain
Australia has always won when Travis Head has scored a century, will history repeat? (Source: Sportskeeda)