For the second session in a row, benchmark equity indices closed down. However, in the broader market, small-cap and mid-cap managed to end with gains. Concerns around rising interest rates, China’s crackdown on its technology companies listed abroad, rising Covid cases and profit-booking by foreign investors were the major forces behind the trade during the week.
On Friday, Sensex closed down by 182.75 points at 52,386.19 while Nifty dropped 38.10 points to close at 15,689.80. On weekly basis, Nifty declined by 0.19 percent and Sensex closed in the red by 0.21 percent. In the broader market, BSE Mid-Cap index gained 0.61% while Small-Cap index gained 0.39 percent. Number of shares gaining 1898 while those declining were 1214, indicating the positive market breadth
Among the index heavyweights, Bajaj Auto was the top loser in the Sensex pack, shedding around 2 per cent, followed by TCS, HDFC Bank, Axis Bank, Reliance Industries and Tech Mahindra. On the other hand, Tata Steel, Bajaj Finserv, Bharti Airtel and NTPC were among the gainers.
On the technical chart, the Nifty has closed below the crucial level of 15,700 suggesting further weakness going ahead. On the upside, 15,840 is likely to be major resistance.
| Sector Index | % Gain or (loss) |
| Real Estate | 6.25 |
| Metals | 2.80 |
| Midcap | 1.34 |
| Media | 1.10 |
| Nifty Bank | 0.75 |
| FMCG | 0.09 |
| Nifty | 0.19 |
| Sensex | 0.21 |
| Pharma | 1.17 |
| IT | 1.19 |
| PSU Banks | 2.10 |
| Auto | 2.48 |
This is the second weekly decline for Sensex and Nifty. During the week, other than global concerns domestic drivers like first-quarter earning season, a spike in inflation and profit booking continued to drag the market. Though in small quantities, profit-booking by foreign portfolio investors (FPI) in the Indian market continued to weigh on the sentiments. For July (till Thursday), the FPIs have sold shares worth Rs3,131 crore, exchange data shows.
