Weekly Update-28 March 2025

NIFTY50

The index closed the week with a gain of 0.72%, settling at 23,519.35. The week started on a strong note with a gap-up opening on Monday, followed by an upward continuation. However, after reaching resistance near 23,800, the momentum slowed, leading to a sideways consolidation for the rest of the week. The index remained range-bound, with limited volatility, as it attempted to establish support levels. For the upcoming week, key support is placed around 23,100, while resistance remains near 23,800. A breakout above or below these levels could determine the next directional move.

BANKNIFTY

The index ended the week with a gain of 1.92%, closing at 51,564.85. It started the week on a strong note with a gap-up opening on Monday, followed by a continued uptrend. However, after approaching resistance near 52,500, the momentum slowed, leading to a sideways consolidation phase for the remainder of the week. Notably, the index outperformed the Nifty, reflecting strong buying interest in banking stocks. For the upcoming week, key support is seen around 50,600, while resistance remains near 52,500. A decisive move beyond these levels could determine the next trend direction.

Best Performing Sector of the week

The Nifty PSU Bank was best performing sector of this week

Major gainers include:-

Bank of Baroda: up by 5.46%

Punjab National Bank: up by 3.21%

Union Bank of India: up by 2.99%

State Bank of India: up by 2.43%

Worst Performing Sector of the week

The Nifty Media was worst performing sector of this week

Major losers include:-

Dish TV: down by 12.58%

Network 18: down by 8.49%

Tips India: down by 7.74%

Zee Entertainment: down by 7.52%

Important News:-

• Vedanta Demerger: Anil Agarwal-led conglomerate extended the demerger deadline to September 30, 2025, over key pending approvals from NCLT and government authorities.

• The National Stock Exchange of India has revised the lot sizes for certain derivative contracts, including an increase for Bank Nifty. Effective April, traders should prepare for changes while some indices remain unchanged.

• The dollar weakened on Friday on growth concerns ahead of a planned announcement next week by U.S. President Donald Trump on reciprocal tariffs, with the Japanese yen benefiting from safe haven flows as stocks tumbled and Treasury yields fell.

• ONGC shares surged 10% in March, buoyed by market recovery and potential investments from Saudi Aramco. Jefferies projects a 47% upside, citing strong production growth and profitability in gas.

• Zaggle Prepaid Ocean Services' stock hit a 5% upper circuit at ₹360 following the approval to acquire a 45.33% stake in Effiasoft. On Tuesday, the company announced that it had completed the acquisition of a 38.34% stake in Mobileware.