{"id":12826,"date":"2023-01-01T11:19:22","date_gmt":"2023-01-01T05:49:22","guid":{"rendered":"https:\/\/univest.in\/blogs\/?p=12826"},"modified":"2023-02-01T21:17:20","modified_gmt":"2023-02-01T15:47:20","slug":"weekly-update-31st-december-2022","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/weekly-update-31st-december-2022\/","title":{"rendered":"Weekly Update \u2013 31st December 2022"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-31st-december-2022\/#NIFTY50\" title=\"NIFTY50\">NIFTY50<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-31st-december-2022\/#Nifty50_Weekly_Chart\" title=\"Nifty50 Weekly Chart\">Nifty50 Weekly Chart<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-31st-december-2022\/#BANK_NIFTY\" title=\"BANK NIFTY\">BANK NIFTY<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-31st-december-2022\/#Bank_Nifty_Weekly_Charts\" title=\"Bank Nifty Weekly Charts\">Bank Nifty Weekly Charts<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-31st-december-2022\/#Top_Performing_Sector_of_the_Week\" title=\"Top Performing Sector of the Week\">Top Performing Sector of the Week<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-31st-december-2022\/#Nifty_PSU_Bank_Index_Weekly_Chart\" title=\"Nifty PSU Bank Index Weekly Chart\">Nifty PSU Bank Index Weekly Chart<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-31st-december-2022\/#Worst_Performing_Sector_of_the_Week\" title=\"Worst Performing Sector of the Week\">Worst Performing Sector of the Week<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-31st-december-2022\/#Nifty_Pharma_Weekly_Chart\" title=\"Nifty Pharma Weekly Chart\">Nifty Pharma Weekly Chart<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-31st-december-2022\/#ABOUT_THE_AUTHOR\" title=\"ABOUT THE AUTHOR\">ABOUT THE AUTHOR<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"NIFTY50\"><\/span>NIFTY50<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>After a sharp fall last week where the Nifty lost 2.53%, this week saw the Nifty rebound. Starting with the first trading day on Monday Nifty began its upward movement and trended upward till Thursday. Friday saw some weakness with the Nifty closing 0.5% lower than Thursday, however, every week the Nifty closed 1.7% higher than the previous week.<br \/>\nNifty is now trading above its key moving averages i.e., 20 EMAs and 50 EMAs indicating strength that is likely to continue in the next week also. The Nifty tested its support level of 17800 last week and this remains the support level for Nifty even at this point. For a further upside, the next resistance level is at 18400, which if crossed this week can see the Nifty head further towards 18600 in the coming weeks.<br \/>\nThis was also the last trading week of the calendar year 2022. Throughout the year, Nifty has been volatile and closed the year with a gain of 4% this year. There is optimism that the next year&#8217;s returns would be higher than the returns of this year.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Nifty50_Weekly_Chart\"><\/span>Nifty50 Weekly Chart<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h3><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-12827 size-full\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/01\/31.1.png\" alt=\"Nifty50\" width=\"599\" height=\"262\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/31.1.png 599w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/31.1-300x131.png 300w\" sizes=\"(max-width: 599px) 100vw, 599px\" \/><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"BANK_NIFTY\"><\/span>BANK NIFTY<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Bank Nifty also saw a fall of 3.6% last week. Like the Nifty, Bank Nifty also made a rebound this week. Bank Nifty performed better than the Nifty gaining 3.2% this week, nearly covering the entire fall of the last week.<br \/>\nThe support level for Bank Nifty remains at the lowest level where it touched last week at 41600. The next resistance level for Bank Nifty is at 43700, which it is likely to touch in the coming week. Bank Nifty is also trading above the 20 EMA and 50 EMAs indicating strength at these levels.<br \/>\nBank Nifty was one of the best-performing indices this year with a gain of 22.6%. This was aided due to the improving performance of PSU banks which saw a rise in their profits along with a reduction in the NPAs.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Bank_Nifty_Weekly_Charts\"><\/span>Bank Nifty Weekly Charts<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-12828 size-full\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/01\/31.2.png\" alt=\"Bank Nifty\" width=\"580\" height=\"311\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/31.2.png 580w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/31.2-300x161.png 300w\" sizes=\"(max-width: 580px) 100vw, 580px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Top_Performing_Sector_of_the_Week\"><\/span>Top Performing Sector of the Week<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\u2981 Nifty PSU Bank<br \/>\n&#8211; Indian Overseas Bank \u2013 up 22.5%<br \/>\n&#8211; Union Bank of India \u2013 up 19.0%<br \/>\n&#8211; Bank of Maharashtra \u2013 up 15.7%<br \/>\n&#8211; Canara Bank \u2013 up 14.3%<br \/>\n&#8211; Bank of India \u2013 up 14.0%<\/p>\n<p>Nifty PSU Bank is also the best-performing index this year with a whopping 73.4% returns. The clean-up initiated by the Central Government in reducing the NPAs of these banks along with technology adaptation by these banks has played out this year. This sector is expected to further deliver above average returns next year also.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Nifty_PSU_Bank_Index_Weekly_Chart\"><\/span>Nifty PSU Bank Index Weekly Chart<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><img decoding=\"async\" class=\"aligncenter wp-image-12829 size-full\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/01\/31.3.png\" alt=\"\" width=\"586\" height=\"284\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/31.3.png 586w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/31.3-300x145.png 300w\" sizes=\"(max-width: 586px) 100vw, 586px\" \/><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"Worst_Performing_Sector_of_the_Week\"><\/span>Worst Performing Sector of the Week<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\u2981 Nifty Pharma<br \/>\n&#8211; Cipla \u2013 down 3.9%<br \/>\n&#8211; Lupin \u2013 down 3.1%<br \/>\n&#8211; Granules India \u2013 down 2.9%<br \/>\n&#8211; Ipca Laboratories \u2013 down 2.5%<\/p>\n<p>Nifty Pharma index was one of the worst-performing indices of 2022, with a negative return of 10.9% at the end of the year. A weakening Rupee impacted export-oriented pharma companies. Analysts are hopeful that this sector will improve its performance next year.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Nifty_Pharma_Weekly_Chart\"><\/span>Nifty Pharma Weekly Chart<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-12830 size-full\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/01\/31.4.png\" alt=\"\" width=\"582\" height=\"277\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/31.4.png 582w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/31.4-300x143.png 300w\" sizes=\"(max-width: 582px) 100vw, 582px\" \/><\/p>\n<p>Important News<\/p>\n<p>\u2981 Canara Bank looks to grow its business to Rs 30 trillion in five years. After crossing business growth of Rs 20 trillion in December, public sector lender\u00a0\u2981 Canara Bank\u00a0is looking to grow its business \u2013 deposits plus advances \u2013 to Rs 30 trillion in about five years.<br \/>\n\u2981 Oyo IPO is likely to get delayed by a quarter as SEBI seeks to refile with updated information.<br \/>\n\u2981 IEX gets shareholders&#8217; nod to buy back shares worth up to Rs 98 crore. The board of directors in its meeting on November 25 had approved the cash offer for the buyback of equity shares of the face value of Rs 1 each at a maximum price of Rs 200 per share for an aggregate amount of up to Rs 98 crore.<br \/>\n\u2981 Govt hikes interest rate on post office savings schemes by up to 1.1bps. While the interest rate for popular PPF and girl child savings scheme Sukanya Samriddhi were retained, rates for deposits up to 5 percent as well as NSC, senior citizen savings scheme and Kisan Vikas Patra (KVP) where income accruing is taxable have been hiked by up to 1.1 percentage points<br \/>\n\u2981 ICICI Prudential Life Insurance has crossed Rs 2.5 lakh crore in assets under management, nearly 8 years after it first crossed the milestone of \u20b91 lakh crore AUM, and 22 years since it started operations in December 2000<br \/>\nAs we close this year, we saw a few surprises and some disappointments from different sectors. The next year will also throw up newer surprises and disappointments. Keep track of your investments with the Univest app, which will help identify performing as well as nonperforming sectors and stocks with timely entry and exit.<\/p>\n<p>Wishing all the users of the Univest app a very Happy New Year!!<\/p>\n<h4><span class=\"ez-toc-section\" id=\"ABOUT_THE_AUTHOR\"><\/span>ABOUT THE AUTHOR<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Sagar Wadhwa<\/p>\n<p>Sagar Wadhwa is a Senior Equity Research Analyst who is a key member of the research team at Univest. He has extensive knowledge and expertise in the stock market, financial analysis, and investing and uses this expertise to provide valuable insights to the research team.<\/p>\n<p><em>Note \u2013 This channel is for educational and training purpose only &amp; any stock mentioned here should not be taken as a tip\/recommendation\/advice<\/em><\/p>\n<p><em>You may also like: <a href=\"https:\/\/univest.in\/blogs\/market-falls-this-week-what-should-investors-do\/\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Market falls today! What should investors do?&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:769,&quot;3&quot;:{&quot;1&quot;:0},&quot;11&quot;:3,&quot;12&quot;:0}\">Market falls today! What should investors do?<\/span><\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NIFTY50 After a sharp fall last week where the Nifty lost 2.53%, this week saw the Nifty rebound. Starting with the first trading day on Monday Nifty began its upward movement and trended upward till Thursday. Friday saw some weakness with the Nifty closing 0.5% lower than Thursday, however, every week the Nifty closed 1.7%<\/p>\n","protected":false},"author":10,"featured_media":26918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[707,708,710,709],"class_list":["post-12826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-bank-nifty","tag-nifty-50","tag-nifty-pharma","tag-psu-bank"],"metadata":{"_edit_lock":["1675266465:10"],"_edit_last":["10"],"_nectar_gallery_slider":["off"],"_nectar_quote_author":[""],"_nectar_quote":[""],"_nectar_link":[""],"_nectar_video_m4v":[""],"_nectar_video_ogv":[""],"_nectar_video_poster":[""],"_nectar_video_embed":[""],"_nectar_audio_mp3":[""],"_nectar_audio_ogg":[""],"_post_item_masonry_sizing":["regular"],"_nectar_header_bg":[""],"_nectar_header_parallax":["off"],"_nectar_header_bg_height":[""],"_nectar_page_header_bg_alignment":["top"],"_nectar_header_bg_color":[""],"_nectar_header_font_color":[""],"_wpb_vc_js_status":["false"],"_yoast_wpseo_title":["Weekly Update \u2013 31st December 2022%%page%% %%sep%% %%sitename%%"],"_yoast_wpseo_metadesc":["After a sharp fall last week where the Nifty lost 2.53%, this week saw the Nifty rebound. 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