In the week ending March 04, the market continued to fall and the market closed in the red mark for the fourth consecutive week. Sensex Nifty closed around 2.5 per cent last week amid ongoing geopolitical tensions between Russia and Ukraine. Last week was only 4 business days due to holiday on Mahashivratri festival. This whole week was full of ups and downs. The week started with a positive note, but as the trading session progressed, it seemed to lose its momentum, due to which the BSE Sensex closed at 54,333.81 with a fall of 1,524.71 points or 2.72 per cent for the week ended March 4. . On the other hand, Nifty lost 413 points or 2.47 percent to close at 16,245.4.
At the same time, the BSE Midcap index closed down 2.3 percent last week. The names of the falling stocks include Biocon, Endurance Technologies, TVS Motor Company, United Breweries, Jubilant Foodworks, Ashok Leyland. On the other hand, Oil India, Natco Pharma, Jindal Steel & Power, Bharat Electronics and Steel Authority of India were the gainers of midcap stocks.
The BSE Largecap index lost 2 per cent. The falling stocks included the names of Maruti Suzuki India, Asian Paints, Bandhan Bank, Eicher Motors, Interglobe Aviation, Hero MotoCorp, Mahindra and Mahindra and Tata Motors. However, gains of 10-15 per cent were seen in GAIL India, Adani Total Gas, Adani Transmission, Tata Steel and Coal India.
Also read- If you want to save income tax, then do this investment as soon as possible before March 31, otherwise more tax will be deducted
The BSE Smallcap index closed down 0.6 per cent last week. Carborundum Universal, KBC Global, Kajaria Ceramics, Varroc Engineering, Brightcom Group, Mayur Uniquoters, Rain Industries, Rane Brake Linings, Asahi India Glass, SVP Global Ventures declined 10-18 per cent. On the other hand, Future Enterprises, Excel Industries, Gujarat Mineral Development Corporation, Syncom Formulations, Urja Global, DB Realty, Nahar Poly Films saw a rise of 20-89 per cent.
If we look at the BSE Sensex, the market cap of HDFC Bank had seen the biggest fall last week. It was followed by Asian Paints, Hindustan Unilever and Maruti Suzuki India. On the other hand, the market cap of Reliance Industries, Tata Steel and ITC saw the biggest gains.
If we look at different sectors, the BSE Auto index was broken by 9 percent last week. While the bank index was down 5.5 per cent. On the other hand, telecom and realty saw a decline of 4 per cent. On the other hand, the metal index had gained 8 per cent and oil and gas by 5 per cent.
FII selling continued in the Indian market last week as well. FIIs sold Rs 22,563.08 crore while DIIs made Rs 16,742.75 crore during the same period.
The currency market was also affected by geopolitical tensions in Eastern Europe. On a weekly basis, the Indian rupee lost 87 paise to close at 76.16 against the dollar, while it closed at 75.29 on February 25.
,