Weekly Update-7 February 2025

NIFTY50

The Nifty index ended the week on a flat note, posting a marginal gain of 0.33% to close at 23,559. The week began with a gap down on Monday, but the index recovered strongly, showing resilience. Tuesday witnessed a significant upside move, driven by robust participation across all sectors. However, for the rest of the week, the index remained range-bound, consolidating within a narrow band. Key support levels for the upcoming week are positioned around 23,300, while resistance is expected near the 23,800 mark. levels.

BANKNIFTY

The Bank Nifty index closed the week with a gain of 1.32%, settling at 50,158, outperforming the Nifty throughout the week. The week kicked off with a gap down on Monday, but a swift recovery followed, and Tuesday saw a strong rally driven by optimism in PSU banks amid expectations of a rate cut. For the rest of the week, the index remained range-bound, with Friday bringing high volatility and a slight decline by the close. The key support levels for the coming week are around 49,500, while resistance is expected near 50,500.

Top Performing Sector of the week

The Nifty Pharma was best performing sector for the week

Major gainers include:-

Abbot India: up by 15.09%

Natco Pharma: up by 11.74%

Divis Lab: up by 9.29%

Lupin: up by 7.09%

Worst Performing Sector of the week

The Nifty FMCG was worst performing sector of this week

Major losers include:-

Colgate Palmolive: down by 9.88%

Emami: down by 8.46%

Godrej Consumer: down by 7.13%

Hindustan Uniliever: down by 5.67%

Important News:-

• In January 2025, Hero MotoCorp's total sales grew by 2.1% to 442,873 units. While domestic sales fell by 2% to 412,378 units, exports surged by 140.8% to 30,495 units.

• Happiest Minds announced the acquisition of Gavs Technologies’ Middle East business, including InnovazIT Technologies LLC (Dubai), Gavs Technologies LLC (Oman), and Gavs Technologies (Saudi Arabia). The deal, valued at $1.7 million, is expected to close by March 15, 2025.

• Coal India's production in January 2025 stood at 77.8 million tonnes, down 0.8% year-over-year. However, year-to-date production reached 621 million tonnes, achieving 74% of the annual target. Offtake in January rose by 2.2% to 68.6 million tonnes.

• Eicher Motors' Royal Enfield sales rose by 20% in January 2025, reaching 91,132 units. Exports saw a significant jump of 79%, totaling 10,080 units compared to 5,631 units last year.

• Anant Raj posted a 55% increase in net profit for Q3 FY25, totaling ₹110.3 crore. Revenue grew by 36.3% to ₹534.6 crore, and EBITDA rose 47.1% to ₹133.1 crore.