Indian markets remained bearish for the the second consecutive week ended May 13 as the benchmark share indices lost nearly 4 percent. Persistent worries over rising inflation, possibility of further rate hikes by global central bank, China lockdown and weakening rupee kept the investors on the edge.
During the last week, BSE Sensex declined 2,041.96 points (3.72 percent) to close at 52,793.62, while the Nifty50 shed 629.05 points (3.83 percent) to end at 15,782.20 levels. However, in the month of May Sensex and Nifty have lost more than 7 percent each.
During the week gone by, all the sectoral indices were in the red with BSE Metal and Power indices falling 13 percent each. BSE Telecom index shed 6.7 percent and Realty index declined 5.8 percent. In broader market, the BSE Mid-cap index lost 5.6 percent, Small-cap index shed 6.5 percent and Large-cap Index declined 4.4 percent.
In absence of any major event, market participants will be closely eyeing the performance of global stocks, the Russia-Ukraine war updates and China’s COVID situation for cues. Further, the listing of country's largest insurer, LIC, would also be on the radar. On the data front, WPI Inflation numbers scheduled for May 17 would also be looked at, experts say.