Stock Market Indexes-Weekly Updates (19- 23 Sept 2022)
Indian Stock Market Indexes and Weekly Updates (19-23 Sept): Indian stock market indexes closed lower during the week ended 23 September amid volatility. The equity benchmarks, Sensex and Nifty fell over 1 percent during the week. The market sentiments were downbeat in the last three sessions of the week after the US Federal Reserve’s hiked interest rate. The weak global cues and FIIs selling pressure dragged the domestic markets for the week
The market sentiments were also dented after the Asian Development Bank (ADB) slashed its GDP growth forecast for India by 50 basis points to 7% for the current financial year ending 31 March 2022. Among the sectors, Pharma and Auto sectors closed higher while correction was seen in Energy and Realty space. FIIs were the net sellers, they sold Rs 4321.66 crore while DIIs bought Rs 1137.96 crore in the equity cash segment for the week ended 23 September.
Weekly Indian Stock Market Indexes (19-23 Sept)
On a weekly basis, the Indian equity benchmark indices were closed lower. Sensex declined 741.87 points or 1.26%, and closed at 58098.92, while the Nifty was down by 203.5 points or 1.16%, and ended at 17327.35 levels. The Bank Nifty on the spot price fell 1230.55 points or 3.02 % and finished at 39546.25 levels.
The broader markets underperformed the benchmark indices during the week. The Nifty midcap index was down 416.2 points or 1.32 percent and closed at 31078.7 levels. The Nifty small-cap index closed lower by 227.55 points or 2.32 percent and ended at 9589.45 levels during the week.
Nifty 50 weekly top gainers and losers
| Weekly Nifty 50 Top Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Sun Pharma | 921.10 | 868.05 | 6.11 |
| Hind. Unilever | 2682.05 | 2528.15 | 6.09 |
| ITC | 346.40 | 331.30 | 4.56 |
| Britannia | 3796.70 | 3639.55 | 4.32 |
| Eicher Motors | 3688.45 | 3549.00 | 3.93 |
| Weekly Nifty 50 Top Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Power Grid | 202.55 | 235.65 | 14.05 |
| Shree Cement | 21201.45 | 23317.70 | 9.08 |
| Ultratech Cement | 6139.95 | 6481.40 | 5.27 |
| NTPC | 163.95 | 172.80 | 5.12 |
| Hindalco | 396.35 | 412.50 | 3.92 |
Mid-cap weekly top gainers and losers
| NSE Weekly Nifty Midcap Top Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Dr. Lal Path Labs | 2514.90 | 2296.70 | 9.50 |
| Page Industries | 53078.15 | 48813.05 | 8.74 |
| Escorts Kubota | 2076.65 | 1929.90 | 7.60 |
| NSE Weekly Nifty Midcap Top Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| M&M Financial Serv | 194.40 | 226.10 | 14.02 |
| Forties Health | 262.25 | 297.20 | 11.76 |
| Sona BLW | 475.00 | 515.45 | 7.85 |
Small-cap weekly top gainers and losers
| NSE Weekly Nifty Smallcap Top Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| KPIT Technology | 660.95 | 572.80 | 15.39 |
| Metro Brands | 879.95 | 780.85 | 12.69 |
| JM Financials | 75.05 | 66.85 | 12.27 |
| NSE Weekly Nifty Smallcap Top Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Can Fin Home | 517.45 | 635.00 | 18.51 |
| Sunteck Realty | 416.40 | 453.55 | 8.19 |
| GNFC | 667.35 | 725.30 | 7.99 |
Weekly Global Stock Market Indexes and Updates
The global stock market indexes fell sharply for the second consecutive week ended 23 September. The key US, European and Asian market indexes closed lower as several central banks tighten their monetary policies and fear a global recession ahead.
The US Stock Market Updates
The US stock market indexes fell sharply during the week after Federal Reserve policymakers revealed that they expected official short-term interest rates to remain higher over the next several months. The stocks reacted negatively after the Fed announced 75 basis points interest rate hike on Wednesday, bringing it to a target range of 3% to 3.25%, its largest since March 2008.
The US markets traded volatile following the pos-meeting press conference of Fed Chair Jerome Powell. The hawkish comment made by Powell that “no one knows whether the rising interest rate will lead to a recession or if so, how significant that recession would be” dented the market sentiments during the week.
The US economic data released during the weekend showed that the economy is slowing but not at the pace expected. The S&P Global flash report showed that the manufacturing and services activity both ticked upward direction in September. The longer-term Treasury yields are at higher levels since late 2008.
European stock market updates
European stock market indexes fell sharply for a second consecutive week, tracking the negative sentiments from US markets, intensifying fears of a prolonged global economic slowdown. The pan-European STOXX Europe 600 ended sharply lower at its lowest levels in more than a year.
The market sentiment got hit as several European central banks including Sweeden, BoE, Norway, and Switzerland raised their interest rate during the week. The PMI survey shows that Eurozone business activity contracted for a third consecutive month in September.
Japan stock market updates
Japan’s stock market index closed lower for more than two months in a holiday-shortened week, tracking negative cues from Wall Street. The Japanese government intervened in its currency market to support the yen after the Bank of Japan (BoJ) maintained its dovish monetary policy.
The market sentiments were subdued as the core inflation rate accelerated to an eight-year high in August. The downside of the markets was limited as the Japanese government announced the removal of the daily cap on foreign visitors from October 11.
Chinese stock market updates
China’s stock market index fell during the week, as global growth slowdown fears gripped investors. The market sentiments were subdued as the Asian Development Bank downgraded its growth estimate. On the monetary policy front, the PBOC kept its benchmark lending rates unchanged at a monthly meeting.
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