Weekly Update- 07th June 2026

NIFTY50

NIFTY50 closed at 23,366.70, down 181.05 points (-0.77%) for the week. The index formed a bearish weekly candle and failed to sustain above the rising trendline support visible on the chart. Selling pressure remains dominant below 23,600. The recent price structure suggests that market participants are adopting a cautious approach, with buying interest emerging only near lower support zones. Momentum indicators continue to reflect weakness, and traders may remain selective until a stronger recovery signal emerges. Support is placed at 23,250 and 22,930, while resistance is seen at 23,600 and 23,850. Overall, the market remains weak in the short term and a decisive move above 23,600 is needed to improve sentiment.

BANKNIFTY

BANK NIFTY closed at 54,496.25, up 188.40 points (+0.35%) for the week. The index managed to hold above recent swing lows and formed a small positive weekly candle, indicating relative strength versus Nifty. Banking stocks witnessed selective buying during declines, helping the index outperform the broader market. However, sustained upside momentum is still lacking, and traders are likely to watch key resistance levels closely for confirmation of a stronger trend. Support is placed at 54,100 and 53,300, while resistance is seen at 54,900 and 55,600. Overall, the banking index remains range-bound with a mildly positive bias as long as it sustains above 54,100.

TOP GAINING SECTOR

NIFTY MEDIA was top gainer sector for the week

Major gainers were:-

ZEE ENTERTAINMENT:- up by 20.58%

SAREGAMA:- up by 12.27%

NETWORK18:- up by 6.98%

TIPS MUSIC:- up by 4.30%

TOP LOSING SECTOR

NIFTY CAPITAL MARKETS was top losing sector for the week

Major losers were:-

HDFCAMC:- down by 6.61%

BSE:- down by 6.42%

MCX:- down by 5.40%

IEX:- down by 4.62%

IMPORTANT NEWS

• India reported strong GDP growth of 7.8% in Q4 FY26, taking full-year growth to 7.7%. The performance highlights the economy’s resilience despite global uncertainty and the West Asia crisis. Strong domestic consumption, investment activity, and government spending played a key role in supporting growth. The data reinforces India’s position as one of the fastest-growing major economies, providing a positive backdrop for corporate earnings, investment activity, and long-term economic expansion.

• India and the United States are moving closer to implementing the first phase of a bilateral trade agreement. The pact could improve market access, boost exports, and strengthen economic ties between the two countries. It may benefit sectors such as manufacturing, pharmaceuticals, technology, and agriculture while supporting long-term trade growth. A successful agreement could also enhance investor confidence and create new opportunities for businesses operating in both markets.

• AirTrunk announced a massive $30 billion commitment toward India’s data centre ecosystem. Rising AI adoption, cloud computing demand, and digitalisation are driving large-scale infrastructure investments across the country. The development is positive for power, real estate, data centre equipment, and technology sectors. It further strengthens India’s position as a digital infrastructure hub and highlights growing global confidence in the country’s long-term technology and digital economy potential.

• The government expects domestic semiconductor facilities to meet around 50% of India’s chip demand by FY35. Ongoing investments in semiconductor manufacturing, packaging, and ecosystem development are accelerating India’s self-reliance efforts. The initiative reduces import dependence and supports the growth of the electronics manufacturing industry. This represents a significant long-term opportunity for India’s technology sector and could help attract additional global semiconductor investments into the country.
  

• The government aims to reach nearly 300 GW of power generation capacity by next year to meet rising electricity demand. Strong investments in thermal power, renewable energy, and transmission infrastructure continue across the sector. The target supports industrial growth, energy security, and economic expansion while creating opportunities for power, EPC, infrastructure, and capital goods companies. The expansion also reflects India’s commitment to building a stronger and more reliable energy ecosystem for future growth.