Indian Stock Market Weekly Analysis: Gainers, Losers & Global Impacts
Indian Stock Market Weekly Analysis (21-25 Aug 2023): Indian stock market indices extended losses for the fifth straight week. This was the longest stretch of weekly decline for the equity benchmarks since April 2022. The domestic markets edged higher for the three out of five trading session during the week. On a weekly basis, Sensex fell slightly lower by 0.10 percent while Nifty declined 0.23 percent this week.
However, the broader markets outperformed the equity benchmarks, as the Nifty midcap index gained 1.73 percent while the smallcap index was up by 1.59 percent. Among the sectors, IT, Bank, and Media advanced during the week, while Pharma, Energy, and Auto ended in the red.
Foreign investors offloaded shares worth Rs 4,638.2 crore on the last trading session of the week after two days of buying, their highest volume of selling shares since Jan 31. They were the net sellers this week, they offloaded shares worth Rs 4895.29 crore in the Indian equity cash segment.
However, Domestic Institutional Investors (DII) bought shares worth Rs 8495.99 crore during the week.
Indian Stock Market Analysis.
Indian stock markets started the week on a positive note on Monday. The domestic indices ended edged higher on Tuesday and closed with moderate gain on Wednesday, for the third consecutive session. The indices gained due to positive global cues, as the global market sentiments were positive ahead of US chip maker Nvidia’s quarterly earnings and on ease in US Treasury yield.
On Thursday, Indian markets opened a gap-up due to positive global cues but profit booking at the higher levels dragged the indices on the weekly expiry day. The sentiments turned further negative on Friday due to weak global cues and as the minutes of the RBI’s last meeting showed concern about surges in inflation.
The market sentiments were also dented, as investors remain sidelined ahead of the US Fed Chair Jerome Powell and ECB president Christine Lagarde’s speech at the Jackson Hole symposium.
Indian Stock Market Weekly Gainers and Losers
Top Nifty 50 Gainers & Losers
The top five Nifty 50 weekly gainers were Bajaj Finance (5.09%), Axis Bank (4.25%), Asian Paints (3.03%), Bajaj Finserve ( 3.00%), and Hindalco (2.39%).
The top Nifty 50 weekly losers were Adani Ports (3.51%), Reliance (3.46%), Adani Enterprise (3.17%), Sun Pharma (2.52%), and Cipla (2.18%)
Top Nifty Mid-Cap Weekly Gainers and Losers
The top five Nifty Mid-cap gainers were Vodafone Idea (14.47%), Trident (13.12%), Tata Tele Mah (10.33%), Sun TV (10.00%), and BHEL (7.40%)
The top losing stocks in the Nifty Mid-cap index were Bank of India (5.59%), Union Bank (5.29%), Syngene (4.60%), JSW Energy (4.07%), and Aurobindo Pharma (3.42%)
Top Nifty Small-cap Weekly Gainers and Losers
The top Nifty Small-cap index weekly gainers were Suzlon (13.13%), Firstsource Sol (12.92%), Jubilant Ingrev (9.32%), MRPL (8.45%), and Anupam Rasayan (7.59%).
The top weekly losers in the Nifty small-cap index were Brightcom Group (17.91%), Tanla Platform (9.20%), Mannapuram Fin (5.71%), Cams Services (4.88%), and Elgi Equipements (4.09%)
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