Indian Stock Market: Sensex, Nifty snaps 3-week losing streak

March 31, 2023 admin

Indian Stock Market Weekly Update (27- 31 Mar 2023): Indian stock market indexes ended with solid gains during the last trading week of the financial year 2022-23, snapping a three-week losing streak. Markets gain three out of four trading sessions during the truncated week. The domestic markets observed a holiday on Thursday on account of Ram Navami.

The market sentiment was upbeat due to strong global cues, as concerns about the banking turmoil subsides after US First Citizen Bank agreed to buy large parts of collapsed Silicon Valley Bank. The fear of the Deutsche Bank crisis also faded away and recovered most of its previous week’s losses. The downward revision of US GDP numbers and higher-than-expected jobless claims has now suggested for potential rate hike pause by the Fed.

On the domestic front, Institutional buying in the equity segments supported the markets during the week. FIIs bought Rs 2243.74 crore worth of shares while DIIs invested Rs 4955.78 crore during the week. Among the sectors, all sectoral indices closed in the green this week with Nifty PSU Bank, Nifty Bank, IT, and Metal gaining the most.

Indian Stock Market Indexes (27-31 March 2023)

On a weekly basis, Sensex jumped 1464.42 points or 2.55 percent, and closed at 58991.52, while the Nifty closed higher by 414.7 points or 2.45 percent, and ended at 17359.75 levels. The Bank Nifty index advanced by 1213.3 points or 3.08 percent and finished at 40608.65 levels.

The broader markets underperformed the benchmark indices during the week. The Nifty midcap index ended higher by 469.68 points or 1.59 percent, and at 30035.15 levels. The Nifty small-cap index was up by 70.85 points or 0.80 percent and ended at 8994.75 levels this week.

Nifty 50 weekly top gainers and losers

Weekly Nifty 50 Top Gainers
Company Name	LTP	Previous Close	Change (%)
Reliance Ind	2331.05	2203.30	5.80
Indusind Bank	1067.95	1009.55	5.78
JSW Steel	688.10	657.80	4.61
Hindalco	405.35	388.40	4.36
Nestle	19704.50	18953.10	3.96

Weekly Nifty 50 Top Losers
Company Name	LTP	Previous Close	Change (%)
Bharti Airtel	749.00	762.45	1.76
Asian Paints	2761.65	2798.50	1.32
SBI Life	1101.10	1112.20	1.00
Adani Ports	631.90	638.00	0.96
Bajaj Finance	5616.75	5649.25	0.58

Mid-cap weekly top gainers and losers

NSE Weekly Nifty Midcap Top Gainers
Company Name	LTP	Previous Close	Change (%)
PB Fintech	639.90	578.70	10.40
Alkem Lab	3396.10	3153.75	7.68
Dalmia Bharat	1968.25	1831.10	7.49

NSE Weekly Nifty Midcap Top Losers
Company Name	LTP	Previous Close	Change (%)
Hindustan Zinc	293.35	323.10	9.21
Vodafone Idea	5.80	6.25	7.20
Gujarat Gas	459.60	482.40	4.73

Small-cap weekly top gainers and losers

NSE Weekly Nifty Smallcap Top Gainers
Company Name	LTP	Previous Close	Change (%)
IIFL Finance	488.10	424.65	14.94
Global Health	526.95	476.60	10.56
Bharat Dynamics	988.70	895.15	10.45

NSE Weekly Nifty Smallcap Top Losers
Company Name	LTP	Previous Close	Change (%)
Brightcom Group	14.60	18.85	22.55
Indian Energy Exc	127.95	142.95	10.49
Kalyan Jewellers	105.35	116.60	9.65