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Home India News

Indian stock market weekly roundup

by Thomas Babychan
August 14, 2022
in India News, Markets, News
Reading Time: 2 mins read
0
Stocks

Image: Moneycontrol

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Indian stock market witnessed appreciable gains and advances last week as global capital markets showed positive cues amidst easing fears of inflation and recession.

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Reduced inflation rate in the economy of the United States, America, and the reducing prices of commodities such as oil and gold in the international market also aided the growth in Indian capital markets.

Continuing performance of foreign investors as net buyers in the Indian stock market also helped indexes close the week in green for the fourth straight week.

Increased performance by domestic companies along with better monsoon helped domestic investors invest large amounts of money in stocks with strong fundamentals.

S&P BSE Sensex, the benchmark index of the Bombay Stock Exchange, gained 1,074.85 points (1.84 per cent), in the last week to end at 59,462.78.

The Benchmark Index of National Stock Exchange, Nifty 50, advanced by 300.7 points to close the market this week at 17698.2.

When compared to July 2022, both indexes have advanced more than 2 per cent. This increase in the value of indexes shows that the market is slowly coming out of high volatility.

Indian stock exchanges have shown heavy resilience when global markets tumbled down due to a possible chip shortage from China-Taiwan military stand-off.

In sectoral indexes, BSE Metal, BSE Capital Goods and BSE Power gained 5%, 4% and 3.6% respectively while Fast moving capital goods index, BSE FMCG lost 1% during the second week.

Foreign Institutional Investors and Domestic Institutional Investors seem to be going in opposite directions when it comes to Indian stocks as FIIs bought equities worth 7,850.12 crore rupees last week while DIIs sold 2,478.19 crores worth of equities.

In a month-wise analysis, FIIs have bought equities worth 14,841.66 crore rupees so far and DIIs sold equities worth Rs 4,243.78 crore.

FIIs were net buyers in July with stock purchases of a net 4,988.79 crore Indian rupees.

Sensex opened at 58,417.71 points on Monday and gained 465.14 points (0.80%) to close the day at 58,853.07. Nifty 50 gained 127.60 points (+0.73%) to close the market at a last traded price of 17,525.10. IT and Automobile stocks were top gainers during the day.

The stock market was closed on Tuesday due to Muharram.

On Wednesday, both the indices traded flat due to anticipation of inflation data and data on industrial production.

Sensex crosses the 59000 mark on Thursday as the US economy showed signs of relief from inflation in the preliminary data. All banking and IT stock made significant advances during the day. Nifty 50 gained 124.25 points (0.71%) to conclude trading at the last trade price of 17,659.00.

On the last day of the trading week, both Sensex and Nifty 50 gained by 0.2% as metal and energy stocks showed signs of appreciation. IT stocks suffered hugely as all stocks listed on Sensex suffered losses on Friday.

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Thomas Babychan

Thomas Babychan is an experienced business and economic journalist with a focus on international trade, stock market, banking, and multilateral organizations. He also has expertise in international relations and diplomacy.

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