Global & Indian Stock Market Weekly Recap ( 23- 27 May)
Global & Indian Stock Market Weekly Recap (23 – 27 May): Indian stock markets continued their northward journey for the second consecutive week. Friday’s rally supported the benchmark indices to close higher on a weekly basis. The domestic market gained after getting clarity in FOMC minutes about the rate hikes and strong earnings from the US retailers. Other than the optimistic global market cues, the government’s tax reduction on fuel and essential commodities to fight inflation has also supported the markets for the week.
However, the market upside was limited as Moody’s Investors Service cut India’s GDP forecast for the CY2022 by 30 bps to 8.8% amid rising inflation. The fear of more interest rate hikes to curb inflation in the next RBI MPC meeting also hit the market sentiments for the week ended 27 May.
Weekly Indian Stock Market Indexes (23- 27 May)
On a weekly basis, Sensex gained 558.27 points or 1.03%, and closed at 54884.66, while the Nifty was up by 86.3 points or 0.53%, and ended at 16352.45 levels. The Bank Nifty on the spot price jumped by 1336.9 points or 3.90 % on a weekly basis and finished at 34276.4 levels.
The broader markets underperformed for the week. The Nifty midcap index was down by 214.95 points or 0.77 percent and closed at 27657.25 levels. The Nifty small-cap index declined by 312.05 points or 3.43 percent and ended at 8824.05 levels during the week.
NSE weekly Nifty 50 top gainers and losers
| NSE Weekly Nifty 50 Top Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| HDFC Life | 598.10 | 544.70 | 9.80 |
| Kotak Bank | 1946.20 | 1829.15 | 6.40 |
| HDFC | 2330.40 | 2201.60 | 5.85 |
| M&M | 952.85 | 903.80 | 5.43 |
| HDFC Bank | 1392.05 | 1320.95 | 5.38 |
| NSE Weekly Nifty 50 Top Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Divis Lab | 3514.70 | 4304.80 | 18.35 |
| JSW Steel | 548.40 | 631.10 | 13.10 |
| ONGC | 143.80 | 161.90 | 11.18 |
| Tata Steel | 1043.50 | 1170.60 | 10.86 |
| Asian Paints | 2834.85 | 3109.95 | 8.85 |
NSE weekly mid-cap top gainers and losers
| NSE Weekly Nifty Midcap Top Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Container Corp | 658.00 | 573.40 | 14.75 |
| Dr. Lal Path Lab | 2204.50 | 1963.25 | 12.29 |
| Ashok Leyland | 140.30 | 130.35 | 7.63 |
| NSE Weekly Nifty Midcap Top Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Jindal Steel | 396.45 | 478.80 | 17.20 |
| ICICI Securities | 427.00 | 473.35 | 9.79 |
| Oil India | 218.00 | 239.40 | 8.94 |
NSE weekly small-cap top gainers and losers
| NSE Weekly Nifty Smallcap Top Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Brightcom Group | 64.35 | 56.15 | 14.60 |
| Tanla Platforms | 1278.35 | 1172.35 | 9.04 |
| EID Parry | 528.80 | 493.30 | 7.20 |
| NSE Weekly Nifty Smallcap Top Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Jindal Stain | 117.90 | 153.40 | 23.14 |
| Vardhaman Textile | 284.75 | 350.90 | 18.85 |
| Suzlon Energy | 7.70 | 9.15 | 15.85 |
Weekly Global Stock Market Updates
The Global market indexes mostly closed in the positive zone for the week ended 27 May. The key indexes in US, European, and Japan closed higher whereas China’s Shanghai ended in the red for the week.
The US markets gained on a weekly basis after getting hints from the FOMC minutes that Fed would go for a 50 bps hike in the coming two MPC meetings. The strong retail earnings report and optimistic growth forecast from the retailers supported the US markets for the week. However, the weak economic data released during the week capped the upside of the markets.
The European benchmark indexes gained for the week, as confidence grew that inflation may be peaking and central banks signaled that interest rate increases are likely to be gradual. Positive cues from Wall Street also supported the European markets during the week. However, the upside remains capped, as the survey shows that there is a slow down in manufacturing and services activity in Europe in May.
Japan’s stock market indexes posted weekly gains. The optimistic retail outlook and reducing concerns about an aggressive rate hike by the Fed have supported the Nikkei 225. However, investors’ confidence is still shaky due to the slowdown in Beijing and weak economic data.
China’s Shanghai closed lower for the week amid concerns about slowing growth due to the government’s zero-tolerance covid policy approach. The weak economic data and slow down in industrial activity have hit the market sentiment during the week. However, Shanghai is gradually easing lockdown restrictions, but economic concerns still persist due to prolong lockdowns.
FIIs and DIIs investment
Foreign Institutional investors (FIIs) were the sellers during the week ended 27 May, whereas the Domestic Institutional Investors (DIIs) continued their buying spree in the cash segment. FIIs sold Rs 9688.62 crores, while DIIs bought Rs 11257.63 crore in the cash market segment during the week ended 27 May.
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