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Home Business

Indian Stock Market Weekly Roundup

by Thomas Babychan
July 8, 2022
in Business, India News, Markets, News
Reading Time: 2 mins read
0
Indian Stock Market Weekly Roundup

Indian Stock Market Weekly Roundup

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During the current week, the Nifty 50 index of the National Stock Exchange posted a growth of 482.60 points when compared to the opening market level on July 4th 2022 (15741.80). This was a 3% growth in percentage terms.

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Similarly, the S&P BSE SENSEX Index of the Bombay Stock Exchange also increased by nearly 3% from 52924.10 on July 4th 2022 to 54,481.84 on 8th July.

Various factors in the international economy, such as decreasing crude oil prices and changes in foreign investor sentiments towards Indian markets, led to this slight but significant increase in major indexes.

From Nifty 50, the Indian luxury product manufacturing company Titan turned out to be the biggest gainer with nearly 10.2% growth in the share prices. An announcement from Tata Group regarding its sales figures during the 1st quarter of 2022-23, coupled with relatively strong demand for premium and luxury goods, helped Titan seal the top spot as the top gainer in the index.

Stocks of Hindustan Unilever, ICICI Bank, and Larsen & Toubro all performed well this week on Nifty50.

Capital Goods Index of BSE performed well this week as it presented a growth of nearly 6%. Other BSE indexes for FMCG, Power, Auto and such also gained relatively good.

V Guard Industries Ltd of S&P BSE CAPITAL GOODS posted a growth of 4% this week along with L&T which posted a growth of 7.54% last week in same index.

Easing Crude Oil Prices

According to Vinod Nair who is head of research at Geojit Financial services, consolidation of prices of commodities along with reduces selling by foreign institutional investors increased the market sentiments. The fall in prices of crude oil also helped many sectors emerge as top gainers, as they now have a window to cut the costs related to fuel consumption and chemical production.

WTI Crude Oil price dropped from 108.43 dollars on July 4th to 104.24 dollars on July 8th. In between this, Joe Biden administration in the United States of America decided to send oil from US Reserves to Europe and Asia. This has led to confusion in markets.

Easing crude oil prices in international markets are expected to have a positive impact on inflationary tendencies in India.

According to economists, inflationary tendencies in the market, cash flow, quantum of foreign investments and dividend policies of the companies could impact heavily on the share values. Upcoming earning reports from top companies in consumer products and technology segment would also decide how will market behave in the upcoming week.

Tags: #stockexchangeIndianiftysensexshare market
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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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