Market continues to fall for the third week; realty, metal worst hit
Investors remained cautious as worries over the health of the banking sector in the US and Europe lingered. Interest rate hikes by the US Federal Reserve and Bank of England added to the turmoil
The Indian equity market lost further ground amid continued selling for the third straight week ended March 24 following mixed global cues as investors remained cautious over lingering worries over the US banking sector turmoil. Selling by FIIs and interest rate hikes by the US Fed and Bank of England added to the turmoil. Falling crude oil prices and DIIs buying provided some support at lower levels.
2/9
During the week, the BSE Sensex fell 462.8 points, or 0.79 percent, to close at 57,527.1, while the Nifty declined 155 points, or 0.90 percent, to end at 16,945.05.
3/9
The BSE midcap Index lost 2 percent, pulled down by GMR Airports Infrastructure, Hindustan Aeronautics, Mphasis, LIC Housing Finance, Godrej Properties, Steel Authority of India, Persistent Systems, Jindal Steel & Power and Voltas. Gainers included Gland Pharma, Aurobindo Pharma, Relaxo Footwears, Gillette India, Muthoot Finance, The Ramco Cements, Emami and Jubilant Foodworks.
4/9
The BSE smallcap index fell 1.5 percent, with 21 stocks declining between 10 and 21 percent. These included SVP Global Textiles, Cerebra Integrated Technologies, Sobha, Hi-Tech Pipes, Cybertech Systems and Software, Seamec, Puravankara, Vakrangee and Optiemus Infracom. Mangalam Industrial Finance, Asian Energy Services, Gujarat Themis Biosyn, Aarti Drugs, Valiant Organics, Shivalik Bimetal Controls, TTK Healthcare and Anupam Rasayan India were among the gainers.
5/9
The BSE largecap index shed 0.75 percent. Zomato, Adani Enterprises, Coal India, Adani Ports and Special Economic Zone, GAIL India, Tata Power Company, DLF, Vedanta and HCL Technologies declined up to 8 percent. On the other hand, Adani Green Energy, Adani Total Gas, Adani Transmission and One 97 Communications (Paytm) added 7-26 percent.
6/9
Among BSE Sensex companies, State Bank of India lost the most in terms of the marketcap followed by Tata Consultancy Services, Infosys and HCL Technologies. ICICI Bank, Hindustan Unilever and ITC were among the companies to have added the most to their marketcaps.
7/9
On the sectoral front, the BSE realty index shed 4.7 percent, the metal index was down 4 percent, the information technology nearly 3 percent and the Capital Goods was down nearly 2 percent. The power index added 0.6 percent.
8/9
During the week, the rupee ended marginally higher at 82.48 to a dollar against a closing of 82.55 at the end of the previous week.
9/9
Foreign institutional investors (FIIs) continued their selling this week as well. They sold equities worth Rs 6,654.23 crore, while domestic institutional investors (DIIs) bought equities worth Rs 9,430.59 crore. In this month, so far, FIIs have sold equities worth Rs 246.04 crore and DIIs bought equities worth Rs 25,592.99 crore.
