{"id":14043,"date":"2023-08-13T03:04:10","date_gmt":"2023-08-12T21:34:10","guid":{"rendered":"https:\/\/univest.in\/blogs\/?p=14043"},"modified":"2023-08-13T03:06:14","modified_gmt":"2023-08-12T21:36:14","slug":"14043-2","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/14043-2\/","title":{"rendered":"Weekly Update"},"content":{"rendered":"<p>[vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text css=&#8221;.vc_custom_1691876169468{margin-right: 16px !important;margin-left: 16px !important;border-right-width: 10px !important;border-left-width: 10px !important;}&#8221;]<\/p>\n<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\/14043-2\/#NIFTY50\" title=\"NIFTY50\">NIFTY50<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/14043-2\/#Nifty50_Weekly_Chart\" title=\"Nifty50 Weekly Chart\">Nifty50 Weekly Chart<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/14043-2\/#BANK_NIFTY\" title=\"BANK NIFTY\">BANK NIFTY<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/14043-2\/#Bank_Nifty_Weekly_Chart\" title=\"Bank Nifty Weekly Chart\">Bank Nifty Weekly Chart<\/a><\/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\/14043-2\/#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\/14043-2\/#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-7\" href=\"https:\/\/univest.in\/blogs-2\/14043-2\/#Key_Results_News\" title=\"Key Results &amp; News\">Key Results &amp; News<\/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\/14043-2\/#About_the_Author\" title=\"About the Author\">About the Author<\/a><\/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>Nifty traded within a narrow range throughout the week and concluded 0.45% lower. It began the week on a muted note but wrapped up the week at its lower levels. On the sectoral front, Nifty Media and PSU Bank saw significant gains, while Nifty Bank experienced a major decline.<\/p>\n<p>Currently, the market is under pressure as the number of distribution days has reached 5. Thursday marked a volume distribution day. The market could enter a downtrend if the count of volume distribution days increases to 7-8. On the contrary, the market is currently trading near its support zone at 19,300. We anticipate a potential market rebound from this level.<\/p>\n<p>The immediate support from here is 19,300, and following that, 18,900 will be considered a strong support level. The resistance is expected at 19,800.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Nifty50_Weekly_Chart\"><\/span><span style=\"font-weight: 400;\">Nifty50 Weekly Chart<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-14044\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022013.png\" alt=\"Weekly updatw\" width=\"1488\" height=\"692\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022013.png 1488w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022013-300x140.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022013-1024x476.png 1024w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022013-768x357.png 768w\" sizes=\"(max-width: 1488px) 100vw, 1488px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"BANK_NIFTY\"><\/span><b>BANK NIFTY<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Bank Nifty concluded the week as a major decliner, incurring losses of 1.52%. It faced pressure from the beginning of the week and closed the week on a lower note, accentuating its negative stance. For the Nifty to find support from this point onwards, the Bank Nifty needs to take the lead.<\/p>\n<p>Looking ahead to the upcoming week, the Bank Nifty index is expected to find support at the 43,400 level, with 45,400 acting as the resistance.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bank_Nifty_Weekly_Chart\"><\/span><span style=\"font-weight: 400;\">Bank Nifty Weekly Chart<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-14045\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022116.png\" alt=\"bank nifty\" width=\"1483\" height=\"698\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022116.png 1483w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022116-300x141.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022116-1024x482.png 1024w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022116-768x361.png 768w\" sizes=\"(max-width: 1483px) 100vw, 1483px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Top_Performing_Sector_of_the_Week\"><\/span><b>Top Performing Sector of the Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Nifty Media 7.46% Up<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 Zeel 15.60% Up<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 Dish Tv 11.75% Up<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 TV18Broadcast 10.18% Up<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-14046\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022211.png\" alt=\"Nifty Media\" width=\"1487\" height=\"694\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022211.png 1487w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022211-300x140.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022211-1024x478.png 1024w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022211-768x358.png 768w\" sizes=\"(max-width: 1487px) 100vw, 1487px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Worst_Performing_Sector_of_the_Week\"><\/span><b>Worst Performing Sector of the Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Nifty Bank 1.52% Down<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 Au Bank 4.59% Down<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 Kotak Bank 2.56% Down<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 HDFC Bank 2.02<\/span> <span style=\"font-weight: 400;\">% Down<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-14048\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022116-1.png\" alt=\"Nifty Bank\" width=\"1483\" height=\"698\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022116-1.png 1483w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022116-1-300x141.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022116-1-1024x482.png 1024w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-13-022116-1-768x361.png 768w\" sizes=\"(max-width: 1483px) 100vw, 1483px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Key_Results_News\"><\/span><b>Key Results &amp; News<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ttk Prestige<\/span><span style=\"font-weight: 400;\">\u2019s Q1 FY24 revenue was down 7% y\/y to Rs 588 crore. Profit fell 9% y\/y to Rs 48 crore. EBITDA margin declined 140bps y\/y to 29.6%.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Beml<\/span><span style=\"font-weight: 400;\">\u2019s Q1 FY24 revenue was down 14% y\/y to Rs 577 crore. Its loss narrowed down to Rs 75 crore from Rs 82.4 crore a year ago.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Vinati Organics<\/span><span style=\"font-weight: 400;\">\u2019s Q1 FY24 revenue was down 14.4% y\/y to Rs 431 crore. Profit declined 27.7% y\/y to Rs 83.2 crore. EBITDA margin declined to 25.3% from 30.2% a year ago.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Apollo Hosps.Enterprise<\/span><span style=\"font-weight: 400;\">\u2019s Q1 FY24 revenue was up 16.4% y\/y to Rs 4,417.8 crore. Profit declined 46.5% y\/y to Rs 173.4 crore.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Godrej Industries<\/span><span style=\"font-weight: 400;\">\u2019s Q1 FY24 revenue was up 12% y\/y to Rs 4,505.7 crore. Profit fell 12.7% y\/y to Rs 178.1 crore.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Zydus Lifesciences<\/span><span style=\"font-weight: 400;\">\u2019s Q1 FY24 revenue increased 29.6% y\/y to Rs 5,139.6 crore. Profit surged 109.7% y\/y to Rs 1,086.9 crore.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"About_the_Author\"><\/span><strong>About the Author<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\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>Note \u2013 This channel is for educational and training purposes only &amp; any stock mentioned here should not be taken as a tip\/recommendation\/advice<\/p>\n<p><em>You may also like:\u00a0<a href=\"https:\/\/univest.in\/blogs\/weekly-update-24\/\">Weekly update\u00a0<\/a><\/em>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text css=&#8221;.vc_custom_1691876169468{margin-right: 16px !important;margin-left: 16px !important;border-right-width: 10px !important;border-left-width: 10px !important;}&#8221;] NIFTY50 Nifty traded within a narrow range<\/p>\n","protected":false},"author":10,"featured_media":26919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":["post-14043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market"],"metadata":{"_edit_lock":["1691876002:10"],"_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_estimated-reading-time-minutes":[""],"_yoast_wpseo_wordproof_timestamp":[""],"_yoast_wpseo_primary_category":["24"],"nectar_blog_post_view_count":["106"],"_thumbnail_id":["26919"],"_yoast_wpseo_focuskw":["Weekly Update"],"_yoast_wpseo_title":["%%title%% %%page%% %%sep%% %%sitename%% Weekly Update"],"_yoast_wpseo_metadesc":["Nifty traded within a narrow range throughout the week and concluded 0.45% lower. 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