Weekly Update- 22nd May 2026

NIFTY50

Nifty closed the week at 23,719, gaining 64 points (+0.27%) from the previous weekly close. The index witnessed a range-bound and volatile week, with repeated rejection near the 23,850–24,000 zone while buyers continued to defend lower levels around 23,300–23,500. Weekly price action suggests that the market is currently in a consolidation phase after the recent sharp recovery from lower levels. The latest candles reflect indecisive momentum, indicating that traders are waiting for a decisive breakout on either side. For the coming week, key support is placed around 23,550 followed by 23,300, while resistance is seen near 23,850 and 24,200. Overall view remains cautiously positive, with buy on dips strategy preferred as long as Nifty sustains above the 23,550 zone.

BANKNIFTY

Bank Nifty closed the week at 54,055, gaining 345 points (+0.64%) from the previous weekly close. The index witnessed a volatile recovery attempt during the week after recent heavy selling pressure, with banking stocks showing selective buying from lower levels around 52,800 to 53,000. Weekly price action indicates that Bank Nifty is attempting to form a short-term base, although selling pressure continues to emerge near the 54,200 to 55,000 zone. The latest candles suggest stabilization after sharp correction, but stronger follow-through buying is still required for a sustained up move. For the coming week, key support is placed around 53,500 followed by 52,800, while resistance is seen near 54,200 and 55,000. Overall view remains cautiously bullish, with preference for buy on dips approach as long as Bank Nifty sustains above the 53,500 zone.

TOP GAINING SECTOR

NIFTY IT was top gainer sector for the week

Major gainers were:-

COFORGE:- up by 8%

WIPRO:- up by 6.9%

KPITTECH:- up by 6.7%

MPHASIS:- up by 6.6%

TOP LOSING SECTOR

NIFTY MEDIA was top losing sector for the week

Major losers were:-

SUN TV:- down by 9%

ZEE ENTERTAINMENT:- down by 7%

TV TODAY:- down by 4.3%

PVR INOX:- down by 3%

IMPORTANT NEWS

• Tata Electronics partnered with ASML to build India’s first semiconductor plant. The project strengthens India’s chip manufacturing ambitions and reduces import dependence. It supports the government’s semiconductor mission, boosts high-tech manufacturing, and can create a strong ecosystem for electronics, AI, and advanced technology industries.

• Reserve Bank of India (RBI) will transfer a record ₹2.87 lakh crore dividend to the government for FY26. The large payout improves fiscal flexibility, supports government spending, and may help contain fiscal deficit pressures. Higher liquidity support can benefit infrastructure, capital expenditure, banking, and broader economic growth while improving market sentiment.

• The government approved the Ahmedabad–Dholera semi high-speed rail corridor with an investment of ₹20,667 crore. The project will strengthen connectivity to Gujarat’s industrial and semiconductor hub. It is expected to improve logistics efficiency, industrial growth, and infrastructure development while creating opportunities for railway, EPC, construction, and capital goods companies across the supply chain.

• NTPC plans to invest ₹56,000 crore in a nuclear power project in Bihar. The investment reflects India’s focus on long-term clean energy and power security. The project can generate opportunities for power equipment suppliers, EPC companies, and infrastructure firms while strengthening India’s nuclear and energy ecosystem over the coming decade.
  

• India’s foreign exchange reserves increased by $6.295 billion to nearly $697 billion, strengthening the country’s external financial position. Higher reserves improve the RBI’s ability to manage currency volatility and defend the rupee during global uncertainty. Strong reserves also provide protection against crude oil shocks, imported inflation, and foreign capital outflow risks.