{"id":1843,"date":"2021-04-18T05:53:10","date_gmt":"2021-04-18T05:53:10","guid":{"rendered":"http:\/\/www.assetmultiplier.co.in\/blog\/?p=1843"},"modified":"2021-04-18T05:55:31","modified_gmt":"2021-04-18T05:55:31","slug":"the-week-in-a-nutshell-april-12th-to-16th","status":"publish","type":"post","link":"https:\/\/www.assetmultiplier.co.in\/blog\/2021\/04\/18\/the-week-in-a-nutshell-april-12th-to-16th\/","title":{"rendered":"The week in a nutshell (April 12th to 16th)"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><b>Technical talks<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>NIFTY<\/b><span style=\"font-weight: 400;\"> opened the week on <\/span><span style=\"font-weight: 400;\">12<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> April at 14,645 and closed on <\/span><span style=\"font-weight: 400;\">16<\/span><span style=\"font-weight: 400;\">th <\/span><span style=\"font-weight: 400;\">April at 14,617. After beginning the week with major losses, the index rebounded to close flat for the week. <\/span><span style=\"font-weight: 400;\">The index is trading below its 20DMA of 14,661, which may act as resistance. The next level being 50DMA at 14,863. The Index breached its 100DMA at 14,316 during the week where it may find support.<\/span><\/li>\n<\/ul>\n<p><b>Weekly highlights<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The week began with major indices in red due to the rising Covid-19 cases and lockdown-like conditions imposed across major areas in the country.\u00a0 Indices recovered during the week to end flat. Gains were seen in pharma, IT, metals, and auto stocks, while bank and realty indices ended in the red.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Due to the increasing number of COVID-19 cases in India, Foreign Institutional Investors (FII) turned net sellers this week,\u00a0 at\u00a0 Rs 10,590 mn. Domestic Institutional Investors (DII) were net buyers and pumped in Rs 6,080 mn.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Q4FY21 result earnings season started this week with the big 3 tech companies -TCS, Infosys, and\u00a0 Wipro. All reported good revenue growth on the expected lines. Their comments for upcoming quarters suggest promising growth. On the back of a strong earnings show, Infosys has announced a buyback of Rs.92 bn, at an upper price limit of Rs. 1750\/share.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The US Equity markets hit a record high during the week. The Dow Jones Industrial Average hit the historic milestone of 34,000 for the first time owing to economic recovery and stimulus package announced by President Joe Biden and reducing unemployment.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">American banking major Citibank on Thursday announced that it will exit from the consumer banking business in India and 13 countries. This is a part of a global strategy of CEO Jane Fraser attributing the decision to an absence of scale to compete in these geographies. The bank has 35 branches in India and employs approximately 4,000 people in the consumer banking business.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">India\u2019s retail inflation, measured by the Consumer Price Index (CPI), rose to 5.52 percent in March. Separately, the country\u2019s factory output, measured in terms of the Index of Industrial Production (IIP), witnessed a contraction of 3.6 percent in February. The retail inflation during February was at <\/span><span style=\"font-weight: 400;\"><a href=\"https:\/\/indianexpress.com\/article\/business\/economy\/india-cpi-retail-inflation-february-2021-iip-factory-output-january-2021-mospi-data-7225536\/\">5.03 <\/a>per cent<\/span><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<p><b>Things to watch out\u00a0<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Q4FY21 result season to continue with HDFC Bank and Nestle reporting their earnings. India\u2019s COVID patient numbers will drive the sentiment of the market in the near term. Some economists are already reducing India\u2019s GDP growth forecast for FY22 due to the second wave. We expect investors to focus back on cash flow creators &#8211; pharma, consumer, and software services. This is a holiday-shortened week due to a break on Wednesday.\u00a0<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Technical talks NIFTY opened the week on 12th April at 14,645 and closed on 16th April at 14,617. After beginning the week with major losses, the index rebounded to close flat for the week. The index is trading below its 20DMA of 14,661, which may act as resistance. The next level being 50DMA at [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[695,684,680],"tags":[723,65,129,718],"_links":{"self":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1843"}],"collection":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/comments?post=1843"}],"version-history":[{"count":1,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1843\/revisions"}],"predecessor-version":[{"id":1844,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1843\/revisions\/1844"}],"wp:attachment":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/media?parent=1843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/categories?post=1843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/tags?post=1843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}