Weekly Update- 30th May 2026

NIFTY50

NIFTY50 closed at 23,547.75, down 171.55 points (-0.72%) for the week. The index continued to witness selling pressure after failing to sustain above the recent recovery zone. Weekly price action indicates bears remain active at higher levels, though support buying emerged near 23,300. Immediate support is placed at 23,300 and 22,900, while resistance is seen at 23,850 and 24,300. Overall, the market remains cautious and may stay volatile until Nifty regains 23,850 decisively.

BANKNIFTY

BANK NIFTY closed at 54,239.20, up 183.85 points (+0.34%) for the week. Despite the positive weekly change, the index remains under pressure after witnessing a sharp correction from higher levels. Weekly candles show continued resistance near the 56,000 zone. Immediate support is placed at 53,600 and 52,800, while resistance is seen at 54,800 and 56,000. Overall, the banking space remains range-bound to weak, with a breakout above 54,800 needed to improve sentiment.

TOP GAINING SECTOR

NIFTY MEDIA was top gainer sector for the week

Major gainers were:-

ZEE ENTERTAINMENT:- up by 13.37%

HATHWAY CABLE:- up by 6.51%

SAREGAMA:- up by 5.43%

SUNTV:- up by 3.17%

TOP LOSING SECTOR

NIFTY CPSE was top losing sector for the week

Major losers were:-

ONGC:- down by 8.48%

OIL INDIA:- down by 4.72%

COCHIN SHIPYARD:- down by 4.22%

BEL:- down by 1.39%

IMPORTANT NEWS

• India secured a $3.3 billion semiconductor investment in Odisha involving Intel and 3D Glass Solutions. The project strengthens India's semiconductor ecosystem and reduces import dependence. It supports the government's manufacturing ambitions and can attract additional global chip investments. The development is positive for electronics, semiconductor, and technology supply-chain companies.

• The RBI will transfer a record ₹2.87 lakh crore dividend to the government, providing significant fiscal support. The payout improves the government's spending flexibility without increasing borrowing. It can support infrastructure investment and economic growth. The move is also positive for bond markets and overall macroeconomic stability.

• India's power transmission network is expected to see investments of around ₹9 trillion as renewable capacity expands rapidly. Grid modernization is essential for integrating solar, wind, and storage projects. The investment cycle creates opportunities for transmission, power equipment, EPC, and infrastructure companies. It strengthens India's long-term energy transition roadmap.

• The Defence Ministry issued the RFP for India's Advanced Medium Combat Aircraft (AMCA) programme. The project marks a major step toward indigenous fifth-generation fighter jet development. It can significantly boost domestic defence manufacturing and aerospace capabilities. Defence PSUs and private defence suppliers stand to benefit from future contracts.
  

• According to the IEA, India's energy investment is expected to reach a record $170 billion in 2026. The spending will support power generation, transmission, renewables, oil and gas, and energy infrastructure. Strong investment reflects rising energy demand and economic growth. The trend is positive for the entire energy and capital goods ecosystem.