Market weekly round up

15 Jul 2022 , 03:49 PM

Indian equity markets have ended the week in Green.  Nifty closed the week up by 110.5 points. Sensex closed the week up by 344.63 points. Top Gainers on the last day of the week were Tata Consumer, Titan and Hindustan Unilever.  Top losers on the last day of the week include Tata Steel, Power Grid, HCL Technologies. Sensex started the week at 54223.59 and ended it at 53760.78. Nifty 50 started the week at 16158.60 and ended it at 16049.20. So overall it was a week in Red for the markets.

US inflation in June was more than expectations, at 9.1%. This is the highest monthly rate of inflation that the country has seen in 41 years. This was a major factor that drove selling by FPIs this week. Continued decline in the value of rupee was another factor that drove market movement this week. Overall, the trend this week was one of continued oscillation  of the market between value buying and profit booking. Decline in oil prices on the back of an emerging global recession was some relief from the Indian perspective. India’s trade deficit touching its highest monthly level in June 2022 also kept market movements subdued.