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Market falls nearly 2% in a highly volatile week; IT, media stocks hit hardest, autos gain

Among the sectors, Nifty Information Technology lost 5.6 percent and Nifty Media index fell 4 percent. The Nifty PSU Bank and Nifty Bank indices lost nearly 4 percent each. However, Nifty Auto index added 3 percent, Nifty Energy and Oil & Gas indices rose 2.4 percent each

April 23, 2022 / 08:20 AM IST
The Indian equity benchmark indices lost nearly 2 percent in the highly volatile week ended April 22. The mixed India Inc. earnings, rising bond yields, Russia-Ukraine conflict and high inflation led Fed for aggressive rate hike of 50bps in May has dampened the investors sentiments.
The Indian equity benchmark indices lost nearly 2 percent in a highly volatile week ended April 22. The mixed earnings by corporates, rising bond yields, Russia-Ukraine conflict, high inflation and anticipation of aggressive rate hike of 50bps by the US Fed in May dampened the investor sentiment.
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For the week, BSE Sensex fell 1,141.78 points (1.95 percent) to end at 57,197.15, while the Nifty50 declined 303.65 points (1.73 percent) to end at 17,172 levels.
The BSE Large-cap Index shed 1.7 percent dragged by Larsen & Toubro Infotech, Infosys, One 97 Communications, HDFC Bank, Tech Mahindra and Housing Development Finance Corporation. However, Coal India, Reliance Industries, Mahindra and Mahindra, Maruti Suzuki India, Eicher Motors and Indian Oil Corporation remained amongst the major gainers. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
The BSE Large-cap Index shed 1.7 percent, dragged by Larsen & Toubro Infotech, Infosys, One 97 Communications, HDFC Bank, Tech Mahindra and Housing Development Finance Corporation. However, Coal India, Reliance Industries, Mahindra and Mahindra, Maruti Suzuki India, Eicher Motors and Indian Oil Corporation remained among the major gainers. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
BSE Mid-cap Index fell 1.1 percent dragged by Tata Power Company, Glenmark Pharma, Shriram Transport Finance Corporation, ICICI Securities, Max Financial Services, RBL Bank and MphasiS. On the other hand, gainers were Adani Power, NHPC, L&T Finance Holdings, Biocon, JSW Energy and Colgate Palmolive (India).
BSE Mid-cap Index fell 1.1 percent dragged by Tata Power Company, Glenmark Pharma, Shriram Transport Finance Corporation, ICICI Securities, Max Financial Services, RBL Bank and MphasiS. On the other hand, gainers were Adani Power, NHPC, L&T Finance Holdings, Biocon, JSW Energy and Colgate Palmolive (India).
The BSE Small-cap index lost 0.93 percent with Birla Tyres, INEOS Styrolution India, Aurum Proptech, Asian Granito India, Venus Remedies, Indiabulls Real Estate, Yaari Digital Integrated Services, Solara Active Pharma Sciences, PTC Industries, Jaiprakash Associates, Alok Industries, Intellect Design Arena, Rallis India, Dynemic Products, Renaissance Global, Saregama India, Steel Exchange India and Kabra Extrusion Technik losing 10-24 percent. On the other hand, Sunflag Iron and Steel Company, Navkar Corporation, Chennai Petroleum Corporation, Mangalore Refinery and Petrochemicals, Texmaco Rail and Engineering, Bajaj Hindusthan Sugar, Cupid, Borosil Renewables, DCM Shriram Industries, Apcotex Industries and Minda Corporation gained 20-52 percent.
The BSE Small-cap index lost 0.93 percent with Birla Tyres, INEOS Styrolution India, Aurum Proptech, Asian Granito India, Venus Remedies, Indiabulls Real Estate, Yaari Digital Integrated Services, Solara Active Pharma Sciences, PTC Industries, Jaiprakash Associates, Alok Industries, Intellect Design Arena, Rallis India, Dynemic Products, Renaissance Global, Saregama India, Steel Exchange India and Kabra Extrusion Technik losing 10-24 percent. On the other hand, Sunflag Iron and Steel Company, Navkar Corporation, Chennai Petroleum Corporation, Mangalore Refinery and Petrochemicals, Texmaco Rail and Engineering, Bajaj Hindusthan Sugar, Cupid, Borosil Renewables, DCM Shriram Industries, Apcotex Industries and Minda Corporation gained 20-52 percent.
Among the sectors, Nifty Information Technology lost 5.6 percent and Nifty Media index fell 4 percent. The Nifty PSU Bank and Nifty Bank indices lost nearly 4 percent each. However, Nifty Auto index added 3 percent, Nifty Energy and Oil & Gas indices rose 2.4 percent each.
Among the sectors, Nifty Information Technology lost 5.6 percent and Nifty Media index fell 4 percent. The Nifty PSU Bank and Nifty Bank indices lost nearly 4 percent each. However, Nifty Auto index added 3 percent, Nifty Energy and Oil & Gas indices rose 2.4 percent each.
On the BSE Sensex, Reliance Industries added the most in terms of market value, followed Maruti Suzuki India, Asian Paints and Mahindra and Mahindra in the last week. On the other hand, Infosys, HDFC Bank and Housing Development Finance Corporation added most of their market value. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
On the BSE Sensex, Reliance Industries added the most in terms of market value, followed by Maruti Suzuki India, Asian Paints and Mahindra and Mahindra in the last week. On the other hand, Infosys, HDFC Bank and Housing Development Finance Corporation added most of their market value. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
Foreign institutional investors (FIIs) sold equities worth of Rs 18,443.81 crore, while domestic institutional investors (DIIs) bought equities worth of Rs 14,394.37 crore. In the month of April so far FIIs sold equities worth Rs 29,206.19 crore, while DIIs bought equities worth Rs 20,166.48 crore.
Foreign institutional investors (FIIs) sold equities worth of Rs 18,443.81 crore, while domestic institutional investors (DIIs) bought equities worth of Rs 14,394.37 crore. In the month of April so far FIIs sold equities worth Rs 29,206.19 crore, while DIIs bought equities worth Rs 20,166.48 crore.
The Indian rupee fell further against the US dollar in the last week. The INR ended 30 paise lower at 76.48 per dollar on April 22 against its April 13 closing of 76.18.
The Indian rupee fell further against the US dollar in the last week. The INR ended 30 paise lower at 76.48 per dollar on April 22 against its April 13 closing of 76.18.
Rakesh Patil
first published: Apr 23, 2022 08:12 am
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