Weekly Market Note By Mr. Ajit Mishra, Religare Broking
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/05/23de383da345e20d8c975a132ce373a4.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below is the Weekly Market Note By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets ended 2-week long consolidation phase and lost over 4%, pressurized by weak cues. The tone was negative from the beginning and a surprise rate hike from the RBI pushed the bulls on the back foot. Sentiment further dampened in the final session due to increasing fear of aggressive rate hikes from the US Fed. In between, the mixed earnings announcements failed to provide any comfort. Eventually, both Nifty and Sensex, settled closer to the week’s low to settle at 16,411 and 54,835 levels respectively. Amongst the sectors, all the indices ended with losses wherein realty, auto, and metal were the top losers. The broader indices too witnessed a sharp cut and lost in the range of 4%-7%.
In the coming week, participants will first react to the Reliance numbers which were announced post-market on Friday. Besides, developments on the Russia-Ukraine front and the performance of global markets will be on the radar. On the macroeconomic front, IIP and CPI Inflation data are scheduled for May 12 and the market will be closing eyeing these numbers, to gauge the next possible move from the RBI in the June meeting.
On the earnings front, several prominent names like Asian paints, LT, Cipla, Tata Motors, SBI, and Siemens will announce their numbers along with several others.
Markets are reeling under tremendous pressure and indications are in the favour of further decline ahead. Nifty has the next major support at 16,000 levels and the 16,650-16,800 zone would act as a hurdle in case of any rebound. Most sectors as well as the broader indices are trading in sync with the benchmark however select stocks are still holding strong. However, since global cues are largely dictating the trend, we recommend focusing more on overnight risk management and maintaining position on both sides.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Sankha Bhowmick Chief Human Resources Officer WhiteOak Capital Management.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dmart_4e.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Brigade Enterprises.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Ipca Laboratories Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/narendramode37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Muthoot Finance ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/hiroshiyoshida.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Skills Revolution1231.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/cummins.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/investment37.jpg)
Top News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/12/f343a6251b21fc16cbc4850cdb9e2274.jpg)
Calibrated monetary policy action is warranted to contain build-up in underlying inflationar...
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/08/d736065c2dfd9583dee8bd2840591852.jpg)
Daily Market Analysis : Markets traded under pressure and lost over a percent amid feeble g...
![Weekly Market Note : Markets ended 4-week long gaining streak and ended marginally lower, taking a breather after the recent surge by Mr. Ajit Mishra, Religare Broking Ltd.](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/07/18aa7947a3c4d9a2f617949d22b5d25b.jpg)
![Daily Market Analysis : Markets started the March month on a positive note and gained nearly a percent Says Mr. Ajit Mishra, Religare Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/03/446e88715fd3d911e384db4e951706aa.jpg)
![Weekly Market Analysis : Consequently, the benchmark indices, Sensex and Nifty, settled at 62,181.67 and 18,496.60 levels Says Mr. Ajit Mishra, Religare Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/12/c58bc61894bbbf4b668895e365444b29.jpg)
More News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/03/060e9c412adce228c33fe111644f9d1d.jpg)
Quote on Rupee: Rupee traded weak below 82.60 Says Jateen Trivedi, LKP Securities
![Daily Market Commentary :Healthy domestic economic data kept Indian equities in positive territory Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/05/e027ea59530827b369077c2768ec0ec0.jpg)
![Daily Market Commentary : Broader market was down more than 1% amid a rise in India's VIX (Volatility Index) by 8% Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/uploads/news/Broker _16.jpg)
![Post market comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker](https://portfolio.investmentguruindia.com/uploads/news/Shrey Jain.jpg)