Due to persistent geopolitical tensions, rising crude oil prices, sluggish global markets, and persistent selling by Foreign Institutional Investors (FIIs), the Indian market ended lower for the sixth week in a row during the shortened tumultuous trading week. However, the market recovered from larger dips thanks to support from IT, metal stocks, and a higher Indian rupee, which helped limit losses.
The Nifty 50 dropped 106.5 points, or 0.46%, to close at 22,713.10 during the week, while the BSE Sensex dropped 263.67 points, or 0.35%, to close at 73,319.55.
The Nifty Healthcare and Nifty Pharma indices both saw significant sectoral declines, losing more than 3 percent apiece. In the meantime, Nifty Auto, Nifty PSU Bank, Nifty Private Bank, and Nifty Consumer Durables all finished lower, each by about 1%. Conversely, the Nifty IT, Nifty Metal, and Nifty India Defence indices gained 2-3 percent during the session, outperforming the overall market.
The market value of Bharti Airtel decreased the most throughout the week, followed by Sun Pharmaceutical Industries, NTPC Limited, and ICICI Bank. However, the market capitalisation of Tata Consultancy Services, Infosys Limited, and Bharat Electronics Limited increased.
Strong buying in a few equities helped the BSE Smallcap index rise by around 1%. During the session, Latent View Analytics, Ola Electric Mobility, Carborundum Universal, and Birlasoft Limited all saw 10–20% increases. Fine Organics Industries, Garden Reach Shipbuilders & Engineers, RHI Magnesita India, Poly Medicure, Mastek Limited, Tata Chemicals, Chennai Petroleum Corporation, Chambal Fertilisers and Chemicals, BLS International Services, and Relaxo Footwear were among the other significant winners. But equities including Gravita India, Apar Industries, PG Electroplast, Emcure Pharmaceuticals, Sobha Limited, Aether Industries, PTC Industries, Syngene International, and Minda Corporation saw losses.
Losses in Authum Investment & Infrastructure, Ashok Leyland, Blue Star Limited, Voltas Limited, Ipca Laboratories, Max Financial Services, Mahindra and Mahindra Financial Services, Schaeffler India, SBI Cards and Payment Services, and ICICI Prudential Life Insurance Company caused the BSE Midcap index to drop by 0.5%. Lloyds Metals and Energy, National Aluminium Company, Godrej Industries, Page Industries, Persistent Systems, AIA Engineering, Procter & Gamble Hygiene and Health Care, IRB Infrastructure Developers, and Coforge Limited, on the other hand, saw improvements.
During Friday’s session, the Indian rupee broke its four-week losing trend and recorded its largest increase in over 12 years. It had dropped below 95 for the first time earlier in the week, reaching a record low of 95.12 on Monday. The native currency finished the week 171 paise higher at 93.10 compared to the closing level of 94.81 on March 27.
For the seventh week in a row, foreign institutional investors (FIIs) continued to sell, selling stocks valued at ₹29,425.34 crore. Domestic Institutional Investors (DIIs), on the other hand, continued to be net purchasers over the same period, acquiring stocks valued at ₹29,274.93 crore.
