The Nifty Index is on fire these days. The Nifty live chart closed at the 21,853.80 mark on the 2nd February 2024 after a 2% climb from yesterday. The rally has been sustaining for a while now, much after the Ram Mandir inauguration. Even the BSE Sensex shot up 440 points yesterday and ended at 72,085 points.
Factors affecting the Nifty 50 performance
There are plenty of forces working in the background to influence the market price. The volatility you see in the index is owed to a combination of domestic and international market sentiments. We can brace ourselves for a volatile market as the Fed meeting and the Budget month is here. Let’s analyse these factors affecting the Nifty next 50 share price here:
- Domestic market sentiment
The domestic market sentiment seems high with the buyers making a go for the Nifty listed stocks. The buying sentiment is fairly buoyant these days as the Indian stock market continues to fare highly. All the major sectors except for FMCG have shown a good rally. PSUs, PSU Banks, Energy, and the Infra sector remain positive for the time being.
- International market sentiment
China has announced a domestic stimulus package and it has had its effect in the Indian market as well. Add to that the increase in fuel prices due to the volatile situation in the Middle East. Fuel prices are above $80 now as Houthi strikes in the Red Sea continue unabated.
- US Fed rates
The US Federal Reserve meeting is going to be held this week. The data of the US economy suggests that there could be early interest rate cuts as predicted by technical researchers at Motilal Oswal. This could have a bearing on the Nifty next 50 share price.
- Union Budget
February as we all know is the month of the Union Budget. The Interim Budget has been released and there’s no major change as expected. The market seems to have already taken its effect into account. This being the year of general election in India, we may not see any major surprises in the Union Budget.
Gainers and losers this week
As per the Nifty live chart, here are the top Nifty gainers and losers this week (up to 2nd February 2024):
Top gainers this week
- Bharat Petroleum Corporation Ltd. saw a weekly change of 9.8 % and the price stood at Rs 558.35.
- Power Grid Corporation saw a weekly change of 4.25% and is trading at Rs 277.10 currently.
- ONGC recorded an upward rise of 11.3% over the week and the LTP stands at Rs 257.25.
- Adani Ports took the fourth spot with a weekly rise of 3.5% and the LTP at Rs 1261.45.
- NTPC saw a weekly rise of 3.26%. Its current LTP is Rs 332.50.
Top losers this week
- Eicher Motors saw a 2.74% decline from Rs 3933.20 to end up at Rs 3825.55.
- Axis Bank saw a 1.59% weekly decline and ended up at Rs 1067.05.
- HDFC Life saw a similar 1.41% decline as Axis Bank. Its LTP is Rs 578.80.
- HDFC Bank saw a small weekly decline of 1.38% and traded at Rs 1446.15.
- HUL also saw a marginal decline of 0.85% and its LTP stood at Rs 2452.60.
A cursory look at the top 5 Nifty gainers and losers last week suggests that the energy sector is doing particularly well. Similarly, private banks and NBFCs have struggled to get their hold on the market, even though PSU banks have shined this week. Energy sector gave a 5% rally on account of the increase in power demand overall.
List of Nifty 50 stocks
Here’s the list of the Nifty 50 stocks for the benefit of the users:
- HDFC Bank
- Bajaj Finance
- Tata Motors
- ICICI Bank
- AXIS Bank
- Adani Enterprises
- Bajaj Finserv
- Kotak Mahindra
- Coal India
- Adani Ports
- Tata Steel
- Bharti Airtel
- Power Grid Corp
- Maruti Suzuki
- Asian Paints
- Divis Labs
- UltraTech Cement
- HDFC Life
- Hero MotoCorp
- Titan Company
- Tech Mahindra
- HCL Tech
- Sun Pharma
- Eicher Motors
- SBI Life Insurance Ltd.
- Bajaj Auto
- Apollo Hospital
- Dr Reddy’s Labs
- JSW Steel
- Tata Consumer Products Ltd.
- Adani Ports
Key Takeaway: Which Nifty stocks have given good long-term returns?
The Nifty and Nifty next 50 stocks are ideal for beginner investors who want to capitalise on the current market. The Nifty 50 stocks like Infosys and ITC have generated good returns for investors who have stayed long-term. They have generated good dividends on these stocks.
Similarly, if you see the Nifty next 50 share price performance, you’ll see they hold the potential to outshine its parent index. The key is to stay invested and not be hasty.