Stock Market Indexes | Weekly Updates 12-16 Sept 2022
Indian Stock Market Indexes and Weekly Updates (12-16 Sept): The Indian stock market indexes witnessed a sharp selloff and ended the week with deep cuts. The equity benchmarks, Sensex and Nifty fell 1.59 percent and 1.70 percent respectively for the week. The market sentiments were downbeat due to hotter-than-expected inflation in the US that prompted an aggressive interest rate hike from Federal Reserve at its next week’s meeting.
However, the markets have overlooked the slow growth of domestic Industrial Production for July and high retail inflation data for the month of August. Among the sectors, PSU Bank, and Metal sectors were the gainers while some profit booking was witnessed in Realty and Auto sectors during the week. FIIs were the net sellers in the Indian Equity markets, they sold Rs 1921.61 crore worth of shares while DII sold Rs 2936.79 crore during the week ended 16 September.
Weekly Indian Stock Market Indexes (12-16 Sept)
On a weekly basis, the Indian equity benchmark indices were closed lower. Sensex declined 952.35 points or 1.59%, and closed at 58840.79, while the Nifty was down by 302.5 points or 1.70%, and ended at 17530.85 levels. The Bank Nifty on the spot price gained added 361.1 points or 0.89 % and finished at 40776.8 levels.
The broader markets fell almost in line with their larger peers during the week. The Nifty midcap index was down 541 points or 1.69 percent and closed at 31494.9 levels. The Nifty small-cap index closed lower by 119.35 points or 1.21 percent and ended at 9817 levels during the week.
Nifty 50 weekly top gainers and losers
| Weekly Nifty 50 Top Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| IndusInd Bank | 1227.35 | 1137.15 | 7.93 |
| Power Grid | 235.65 | 222.90 | 5.72 |
| NTPC | 172.80 | 166.60 | 3.72 |
| Adani Ports | 938.20 | 906.85 | 3.46 |
| Maruti Suzuki | 9189.65 | 8946.00 | 2.72 |
| Weekly Nifty 50 Top Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Infosys | 1377.05 | 1511.65 | 8.90 |
| Tech Mahindra | 1033.20 | 1126.65 | 8.29 |
| TCS | 3008.70 | 3217.65 | 6.49 |
| HCL Technologies | 896.90 | 948.50 | 5.44 |
| Hero Motorcop | 2685.20 | 2838.45 | 5.40 |
Mid-cap weekly top gainers and losers
| NSE Weekly Nifty Midcap Top Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Union Bank | 46.25 | 43.60 | 6.08 |
| Navin Fluo | 4624.30 | 4371.50 | 5.78 |
| Max Healthcare | 434.20 | 413.30 | 5.06 |
| NSE Weekly Nifty Midcap Top Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Astral | 2338.80 | 2594.15 | 9.84 |
| Dr. Lal Path Labs | 2296.70 | 2532.05 | 9.29 |
| L&T Technologies | 3432.50 | 3753.05 | 8.54 |
Small-cap weekly top gainers and losers
| NSE Weekly Nifty Smallcap Top Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Kalyan Jewellers | 94.30 | 82.45 | 14.37 |
| Bharat Dynamics | 920.95 | 811.10 | 13.54 |
| PNB Housing | 411.00 | 372.70 | 10.28 |
| NSE Weekly Nifty Smallcap Top Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Intellect Design | 558.20 | 616.85 | 9.51 |
| Tanla Platforms | 796.55 | 873.60 | 8.82 |
| Indiabulls Housing | 127.25 | 139.45 | 8.75 |
Weekly Global Stock Market Indexes and Updates
The global stock market indexes sharply fell during the week ended 16 September. European, the US, and key Asian market indexes closed lower due to high inflation and fear of a global recession ahead.
The US and European market updates
The US stock market indexes fell sharply as inflation fears intensified and short-term bond yields reached levels seen in 2007. The S&P500 index made the largest weekly drop since mid-June while Nasdaq fell more than 5% during the week. Communication Services and IT stocks declined the most during the week.
The hotter-than-expectation of consumer price index on Tuesday dimmed hopes for some investors that inflation was peaked. The elevated Core Inflation data in August also added some concerns during the week. Some big corporates like Goldman Sachs Group, FedEx, and General Electric have cautioned investors about lower volume, a decline in demand, and lower profit margins
Stocks in Europe declined during the week amid signs of a deepening economic slowdown. The fears of recession, and high inflation along with the concerns that the Bank of England might deliver an interest rate hike of 0.5 bps at its next meeting weigh on the market sentiments last week.
Though the UK’s retail inflation rate came down slightly in August compared to the previous month due to falling crude oil prices, the Core inflation rate came slightly higher. The UK’s Gross domestic product (GDP) expanded 0.2% in July after a drop of 0.6% in June and the Jobless rate fell during the quarter. Economic sentiments in Germany have dented further in September due to concerns about energy shortage and industrial production and exports.
Japan and Chinese market updates
Japan’s stock market index fell during the week mirroring the weak global market sentiments. However, the downside was limited as the government announced that it will drop Covid-related restrictions on individual tourists and remove its limit on daily international arrivals to the country. Japan’s trade data showed that exports grew 22.1 percent in August 2022 compared to the same period last year.
China’s Shanghai also fell sharply during the week. Other than weak global cues the weakness in currency and downbeat property data hit the market sentiments. However, the downside was limited due to better than expected factory output and retail sales data in August.
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