In the recent week concluding on January 25, the Bharat equity market experienced a downturn, grappling with various factors. The challenges included a mix of corporate earnings reports from Bharat companies, concerns about a potential delay in the US Federal Reserve rate cut, escalating tensions in the Middle East, and persistent selling by Foreign Institutional Investors (FIIs).
Market Performance Highlights:
The BSE Sensex, a key benchmark, witnessed a 1 percent decline, amounting to a loss of 722.98 points, settling at 70,700.67. Similarly, the Nifty 50 closed at 21,352.6, marking a 1 percent decrease with a fall of 219.2 points. The BSE Small-cap index also experienced a 0.5 percent decline.
Winners and Losers:
Several individual stocks witnessed notable movements. Karnataka Bank, Zee Media Corporation, Tanla Platforms, Bliss GVS Pharma, MPS, MSTC, Angel One, Restaurant Brands Asia, Cyient were among the losers, with losses ranging between 10-12 percent. On the flip side, IFCI, Transformers and Rectifiers India, Salasar Techno Engineering, IFB Industries, Visaka Industries, Borosil Renewables, HLV, ALLSEC Technologies, Steel Exchange India, and Dhunseri Ventures gained between 20-37 percent.
Market Value Shifts:
HDFC Bank experienced the most significant loss in terms of market value, followed by Axis Bank, Tata Consultancy Services, and Asian Paints. Conversely, Bharti Airtel, Sun Pharmaceutical Industries, and Infosys saw an increase in their market capitalization.
Sectoral Performance:
Various sectors exhibited diverse performances. The Nifty Media index witnessed a substantial 10 percent decline, Nifty Realty index dipped by 4.5 percent, Nifty Bank index saw a 2.6 percent fall, and Nifty PSU Bank index experienced a 2 percent drop. In contrast, the Nifty Pharma index showed resilience with a 1.7 percent increase.
Investor Activity:
Foreign Institutional Investors (FIIs) were net sellers during the week, divesting equities worth Rs 12,194.38 crore. Domestic Institutional Investors (DIIs) provided some support by purchasing equities worth Rs 9,701.96 crore. For the month of January up to this point, FIIs have sold equities worth Rs 35,778.08 crore, while DIIs have bought equities worth Rs 19,976.66 crore.
Currency Movement:
The Bharatiya currency experienced a marginal decline against the US dollar during the week. The domestic currency shed 5 paise, concluding the week at 83.11 compared to the previous week’s closing of 83.06 on January 19.
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