Indian Stock Market Weekly Update (13-17 Mar 2023)

March 17, 2023 admin

Indian Stock Market Weekly Update (13-17 Mar 2023)

The Indian stock market indexes declined for the second consecutive week, following the banking sector turmoil in global markets. The equity benchmarks ended lower for three out of five trading sessions during the week. The fall in the domestic markets was mainly due to weak global cues and FII’s selling pressure. However, the downside was limited due to positive economic data and a fall in crude oil prices.

Among the sectors, barring Realty all other sectoral indices ended in the red, led by Nifty PSU Bank, Auto, and IT. Foreign Institutional Investors (FII) were the net sellers, they offloaded shares worth Rs 7953.66 crore, while Domestic Institutional Investors (DII) bought Rs 9233.05 crore during the week.

Why the Indian Stock market was down?

The turmoil in the US banking sector with the failure of Silicon Valley Bank (SVB) and the closure of New York-based Signature Bank already dampened the investor’s mood at the beginning of the week. The fresh turmoil in Credit Suisse was seen after its shares hit a fresh record low on Wednesday, as a key Sudi investor declined to add funds to the troubled Swiss lender.

However, on Thursday, markets turned positive as Credit Suisse announced that it will borrow funds from the Swiss National Bank. The global sentiments become more positive and the shares of First Republic Bank jumped after the biggest Wall Street banks jointly rescued the lender. The bailout of these two banks boost the investor’s confidence and banking shares bounced back globally at the end of the week.

Indian Stock Market Indexes (13-17 March 2023)

On a weekly basis, Sensex declined 1145.23 points or 1.94 percent, and closed at 57989.90, while the Nifty closed lower by 312.85 points or 1.80 percent, and ended at 17100.05 levels. The Bank Nifty index was down by 887.35 points or 2.19 percent and finished at 39598.10 levels.

The broader markets underperformed the benchmark indices during the week. The Nifty midcap index ended lower by 625.2 points or 2.04 percent, and at 30092.25 levels. The Nifty small-cap index declined 232.35 points or 2.50 percent and ended at 9094.60 levels this week.

Nifty 50 weekly top gainers and losers

Weekly Nifty 50 Top Gainers
Company Name	LTP	Previous Close	Change (%)
BPCL	351.40	326.05	7.77
TechM	1127.15	1061.25	6.21
Titan	2455.65	2375.50	3.37
Nestle	18858.15	18485.75	2.01
Larsen & Tourbo	2195.75	2157.85	1.76

Weekly Nifty 50 Top Losers
Company Name	LTP	Previous Close	Change (%)
IndusInd Bank	1020.50	1144.80	10.86
TCS	3179.30	3331.00	4.55
Eicher Motors	2974.60	3116.10	4.54
M&M	1171.50	1226.70	4.50
Reliance Industries	2223.10	2322.70	4.29

Mid-cap weekly top gainers and losers

NSE Weekly Nifty Midcap Top Gainers
Company Name	LTP	Previous Close	Change (%)
Zee Entertainment	207.25	193.60	7.05
HPCL	242.55	229.70	5.59
Aurobindo Pharma	477.80	453.50	5.36

NSE Weekly Nifty Midcap Top Losers
Company Name	LTP	Previous Close	Change (%)
Patanjali Foods	898.40	998.20	10.00
Emami	351.65	389.55	9.73
Yes Bank	15.05	16.50	8.79

Small-cap weekly top gainers and losers

NSE Weekly Nifty Smallcap Top Gainers
Company Name	LTP	Previous Close	Change (%)
Medplus Health	772.45	692.45	11.55
KPIT Tech	869.20	823.10	5.60
Century Textiles	671.75	640.20	4.93

NSE Weekly Nifty Smallcap Top Losers
Company Name	LTP	Previous Close	Change (%)
Brightcom Group	17.60	21.20	16.98
Balaji Aminies	2006.45	2260.90	11.25
C.E Info System	1069.10	1192.90	10.38