The BSE Sensex and NSE Nifty 50 once again ended with losses last Friday, making it the second losing week in a row. They were affected by global headwinds and a subsequent barrage of selling by foreign institutional investors (FIIs). The BSE Sensex hit a low of 75,112, finally closing at 75,311, with 628 points or 0.8%. Meanwhile, the NSE Nifty swung around the 23,050 and 22,720 marks before ending up at 22,796, lower by 133 points or 0.6%.
Mahindra & Mahindra slipped to being the premier individual loser in Nifty 50 for the second consecutive week, this time with a drop of an additional 9 percent to Rs 2,669. Others included Bharti Airtel, Tata Consultancy Services (TCS), Dr Reddy's Laboratories, Sun Pharmaceutical, Hindustan Unilever (HUL), and Maruti Suzuki; they also constituted a large share group.
Additionally, NTPC, Shri Ram Finance, Hindalco Industries, Eicher Motors, Tata Steel, Coal India, and also ONGC (Oil & Natural Gas Corporation) began reporting growths of 4-8%.
Foreign Institutional Investors (FIIs) sold equities worth another INR 7,793.27 crore on Friday. This increased the total for the month to INR 36,976.70 crore.
The market activity next week, shortened by the Maha Shivratri holiday on Wednesday, would be closely driven by global happenings, including the Russia-Ukraine conflict, changes in the new Covid-19 strain in China, FII trading trends, and the monthly F&O expiry.
