As geopolitical tensions between Russia and Ukraine escalated, Indian markets closed down more than 3 per cent in the week ended February 25 and closed in the red for three consecutive weeks. The week saw huge volatility in the market and on Thursday saw the biggest single day fall since Russia’s attack on Ukraine. However, after the announcement of new sanctions on Russia by the US and England, there was a good recovery in the market.
For the week ended February 25, the BSE Sensex closed at 55,858.52, down 1,974.45 points, or 3.41 per cent. On the other hand, Nifty lost 617.9 points or 3.57 percent to close at 16,658.40.
Last week, the BSE Smallcap index closed down 4.6 per cent. tata Teleservices (Maharashtra), Aegis Logistics, Urja Global, Sadbhav Infrastructure Projects, Soril Infra Resources, Olectra Greentech, Indiabulls Housing Finance, Syncom declined by 10-22 per cent. On the other hand, Salasar Techno Engineering, Orient Bell, Garware Hi-Tech Films, Federal-Mogul Goetze and Vadilal Industries saw gains of 10-18 per cent.
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At the same time, the BSE Midcap index closed down 2.5 percent last week. The falling stocks included Rajesh Exports, Ajanta Pharma, Zee Entertainment Enterprises, Bank of India, Balkrishna Industries, Shriram Transport Finance Corporation, Bharat Heavy Electricals, New India Assurance Company, LIC Housing Finance, Indraprastha Gas and Kansai Nerolac Paints.
The BSE Largecap index lost 3.3 per cent. The falling stocks included Indus Towers, Hindustan Petroleum Corporation, Bharat Petroleum Corporation, UPL, Interglobe Aviation, ICICI Prudential Life Insurance Company, HDFC Life Insurance Company, Grasim Industries, Ambuja Cements, SBI Life Insurance Company and Tata Motors – DVR. .
The market cap of Tata Consultancy Services was the biggest loser in the BSE Sensex. It was followed by Reliance Industries, Hindustan Unilever and HDFC Bank. On the other hand, Kotak Mahindra Bank and Power Grid Corporation of India saw the biggest increase in the market value.
If we look at different sectors, all the sectors were closed in the red mark last week. The Nifty Media index was down 7.6 per cent. At the same time, the PSU Bank index was broken by 5.7 percent and the Auto index by 4.6 percent.
Last week, the Indian rupee on a weekly basis lost 63 paise to close at 75.29, while on February 18, the rupee closed at 74.66 against the dollar.
For the week ended February 25, foreign institutional investors sold Rs 19,843.52 crore in the domestic market, while domestic institutional investors bought Rs 21,511.79 crore. So far in the month of February, FIIs have sold a total of Rs 41,771.60 crore while DII has sold Rs 37,941.25 crore.
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