Market ends second straight week in the red. IT, auto, financials major drag
On the sectoral front, Nifty PSU index fell 4.5 percent, Auto index shed nearly 4 percent, Information Technology index down 2.3 percent and Bank index shed 2 percent.
The market witnessed heavy selling for the second straight week ended March 17 amid weak global cues after the crashing of several US banks triggered offloading by FIIs. There was, however, some recovery in the second part after financial aid to support the US banks, softening in crude oil prices, and expectations that the US Fed may not go aggressive in the upcoming policy.
2/9
In this week, the BSE Sensex lost 1,145.23 points or 1.93 percent to end at 57,989.90, while Nifty50 shed 312.9 points or 1.79 percent to close at 17,100.
3/9
The BSE Small-cap index declined nearly 3 percent with Swan Energy, PC Jeweller, GRM Overseas, Brightcom Group, Deep Polymers, Vikas WSP, Rushil Decor, PNB Housing Finance, Future Consumer and Jindal Drilling Industries losing 15-22 percent, while Jain Irrigation Systems, Moschip Technologies, Medplus Health Services, Waaree Renewable Technologies, Zen Technologies, Shiva Cement, Onward Technologies and AYM Syntex up 10-15 percent.
4/9
BSE Mid-cap Index shed 2 percent dragged by Samvardhana Motherson International, Emami, Biocon, CRISIL, Gillette India, Aditya Birla Fashion & Retail, Union Bank of India and Mphasis.
5/9
The BSE Large-cap Index fell 1.6 percent dragged by IndusInd Bank, Bandhan Bank, Star Health & Allied Insurance Company, Adani Wilmar and Adani Total Gas. Gainers were Adani Green Energy, Adani Transmission, Bharat Petroleum Corporation, DLF and Tech Mahindra.
6/9
Among BSE Sensex, Reliance Industries lost the most in terms of market cap, followed by Tata Consultancy Services, Infosys and State Bank of India. On the other hand, Titan Company, Tech Mahindra and Larsen & Toubro added the most of their market cap. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
7/9
On the sectoral front, the Nifty PSU index fell 4.5 percent, the Auto index shed nearly 4 percent, the Information Technology index was down 2.3 percent, and the Bank index shed 2 percent.
8/9
The Foreign institutional investors (FIIs) turned net sellers this week as they sold equities worth Rs 7,953.66 crore, while domestic institutional investors (DIIs) bought equities worth Rs 9,233.05 crore. However, FIIs and DIIs bought equities worth Rs 6,408.19 crore and Rs 16,162.40 crore so far this month.
9/9
In this week, the rupee ended 51 paise lower at 82.55 per dollar on March 17 as against its March 10 closing of 82.04.
