MarketSmith India

Nifty had a good week, closing higher on all five trading sessions of the last week. However, the magnitude of gains was minimal (0.1-0.5%). Trading volume also remained below average throughout the week.

Global Stock Markets: Dow 30, -0.2%; S&P500, -0.2%; NASDAQ, -0.2%; Nikkei, -0.1%; Kospi, -0.3%; Shanghai, +0.5%. In a holiday-shortened week, Nifty started on a flat note, closing 0.1% higher on Monday. It found support at the 50-DMA.

Global Stock Markets: Dow 30, +0.13%; S&P500, +0.47%; NASDAQ, +0.51%; Kospi, +1.01%; Shanghai, +0.12%. Last week, Nifty closed lower for the second consecutive week. The index started the week on a volatile note following global cues.

After eight consecutive weeks of gain, Nifty closed lower last week. The index closed higher in the first four trading sessions but it erased all its gains on Friday as it gapped lower on weak global cues.

Nifty started the previous week on a negative note, as it closed lower in the first four trading sessions. However, Friday's session pared the week's losses and helped the index close higher for the eighth consecutive week.

Global Stock Markets: Dow 30, +0.6%; S&P500, -1.4%; NASDAQ, -2.8%; Nikkei, -2%; Kospi, +0.1%; Shanghai, -0.8%. On Tuesday, Nifty started on a muted note and traded in a narrow range throughout the session.

Global Stock Markets: Dow 30, +0.5%; S&P500, +0.3%; NASDAQ, +0.4%; Kospi, +0.1%; Shanghai, -0.2%. Yesterday, Nifty started on a positive note. However, the index pared most of its gains and marked the day's low within the first 30 minutes.

Global Stock Markets: Dow 30, -0.1%; S&P500, +0.1%; NASDAQ, +0.3%; Nikkei, +1.5%; Kospi, +0.1%; Shanghai, -0.4%.

Yesterday, Nifty had a gap opening of around 80 points. However, the index came under selling pressure from the onset and shredded more than 150 points from the day's highs.

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