Weekly round up of Indian equity markets

24 Jun 2022 , 02:46 PM

Indian markets have ended the week in green. This week was one of net gains for Indian equity markets. BSE Sensex started the week at 51500. It ended the week at 52727.63. This is a weekly gain of 2.38%.  NSE Nifty started the week at 15657.40. It ended the week at 15697.75. This is a weekly gain of .25%.  Top gainers at the end of the week included M&M, IndusInd Bank, Hero Motors. Top Losers at the end of the week included Tech Mahindra, Infosys, TCS etc.

This week foreign portfolio investors remained net sellers on every day. Selling by foreign investors continued to put pressure on Indian equity markets. The trend of investors going for short term value buying and short term profit booking continued. A global recession looked all the more probable this week. Depreciation of rupee against the dollar continued, with some minor respite in between. FMCG companies such as HUL recognized the challenging environment that they are facing because of higher input prices and lower demand. Oil prices declined a bit because of expectations of a global recession. On the technical front it cannot be said that the markets have found a stable support level for the near term.