Weekly Update- 27th June 2026

NIFTY50

NIFTY50 closed around 24,056 and continues to trade above the important 24,040 breakout level, indicating that buyers remain in control despite mild profit booking. The recent recovery from lower levels remains intact with higher lows visible on both the daily and weekly charts, suggesting that the broader trend continues to favor the bulls. Market sentiment remains constructive as sustained buying interest across key sectors continues to support the index near important support zones. The ability to hold above breakout levels despite intermittent volatility reflects underlying strength and growing confidence among market participants. As long as the index holds above 24,040 to 23,800, the possibility of extending the rally towards 24,250 to 24,600 remains high. A sustained move below 23,800 could invite short-term consolidation, but the overall structure continues to remain positive unless key support zones are decisively broken. Continued participation from institutional investors and improving market breadth could further support the ongoing uptrend in the coming sessions.

BANKNIFTY

BANK NIFTY closed near 58,177 and is holding above the crucial 58,110 breakout zone after a strong recovery from recent lows, reflecting sustained buying interest in frontline banking stocks. The weekly structure continues to improve with higher highs and higher lows, while the daily chart indicates that momentum remains favourable despite some intraday volatility. Strong participation from major private sector and PSU banks has helped the index maintain its leadership position within the broader market. The price action suggests that buyers continue to accumulate on declines, keeping the short-term trend firmly positive. As long as the index sustains above 58,110–57,500, it has the potential to move towards 58,700 initially and eventually test the major resistance near 60,900. Only a decisive break below 57,500 would weaken the current bullish structure and lead to a phase of consolidation. Until then, the overall outlook remains positive, with dips likely to attract fresh buying interest rather than trigger a significant trend reversal.

TOP GAINING SECTOR

NIFTY PHARMA was top gainer sector for the week

Major gainers were:-

AUROBINDO PHARMA:- up by 7.72%

DR REDDY’S LABS:- up by 6.55%

CIPLA:- up by 6.24%

LAURUS LABS:- up by 5.93%

TOP LOSING SECTOR

NIFTY METAL was top losing sector for the week

Major losers were:-

VEDANTA:- down by 10.64%

NATIONAL ALUMINUM:- down by 9.68%

HINDZINC:- down by 9.34%

JINDAL STEEL:- down by 6.40%

IMPORTANT NEWS

• India and the United States are nearing the conclusion of a long-awaited bilateral trade agreement, marking a significant step forward in economic cooperation between the two countries. The deal is expected to improve market access, boost exports, and attract fresh investments across multiple industries. Key sectors including manufacturing, agriculture, pharmaceuticals, and technology could benefit from expanded trade opportunities and reduced barriers. The agreement may significantly strengthen long-term economic ties, improve business confidence, and support higher trade and investment flows between both nations.

• Amazon announced an additional $13 billion investment in India’s AI and cloud infrastructure through 2030. The investment will support the expansion of data centres, cloud services, artificial intelligence capabilities, and digital infrastructure across the country. The commitment reinforces India’s position as one of the world’s fastest-growing digital economies and highlights growing global confidence in its technology ecosystem. The development is positive for technology companies, data centre operators, telecom infrastructure providers, and enterprise software businesses, while also supporting job creation and innovation.

• Technology startup funding in India rose 12% to $7.2 billion during the first half of 2026, indicating a gradual improvement in investor sentiment. Despite a lower number of deals, the presence of larger funding rounds reflects stronger confidence among domestic and global investors. Sectors such as artificial intelligence, fintech, enterprise software, and deep-tech attracted significant capital during the period. The trend signals a recovery in India’s startup ecosystem and highlights continued interest in innovation-driven businesses with long-term growth potential.

• India’s foreign exchange reserves increased by $963 million to $672.58 billion, further strengthening the country’s external financial position. Healthy reserve levels improve the RBI’s ability to manage currency volatility, support the rupee, and respond to external economic shocks. Strong reserves also enhance investor confidence and contribute to overall macroeconomic stability. The increase provides an important buffer against global financial uncertainties, capital flow volatility, and fluctuations in commodity prices.

• According to Nasscom, Indian IT companies are already generating $10–12 billion in AI-related revenue, highlighting the rapid adoption of artificial intelligence across global enterprises. Growing demand for AI services, automation solutions, data analytics, and enterprise transformation projects is creating substantial opportunities for the sector. Indian IT firms continue to invest heavily in AI capabilities, talent development, and advanced digital solutions to capture this expanding market. The trend supports long-term earnings growth and further strengthens India’s position as a global leader in technology and digital services.