Bears rule Dalal Street amid Fed hike, falling rupee, and rising Ukraine tensions

In the week gone by, Indian rupee touched a fresh record low by crossing the 81 mark for the first time

September 24, 2022 / 10:14 AM IST
Indian market lost another 1 percent in the second consecutive week ended September 23 after as anticipated Fed hiked the interest rates by 75 bps in the third straight policy announcement with extended hawkish stance, rupee hitting record low, FIIs selling and escalating Russia-Ukraine conflict.
Indian market lost another one percent in the second consecutive week ended September 23 as Fed hiked interest rates by 75 basis points in the third straight policy announcement with extended hawkish stance, rupee hit record low, FIIs sold, and Russia-Ukraine conflict escalated.
For the week, BSE Sensex slipped 741.87 points or 1.26 percent to close at 58,098.92, while the Nifty50 fell 203.55 points or 1.16 percent to end at 17,327.30 levels.
For the week, BSE Sensex slipped 741.87 points or 1.26 percent to close at 58,098.92, while the Nifty50 fell 203.55 points or 1.16 percent to end at 17,327.30 levels.
The BSE Small-cap index declined 1.3 percent dragged by the Vinyl Chemicals (India), Sindhu Trade Links, KBC Global, Can Fin Homes, Future Lifestyle Fashions, JSW Holdings, Navkar Corporation, Balmer Lawrie Investment and Tata Investment Corporation. However, gainers were JTL Infra, Dish TV India, PC Jeweller, Schneider Electric Infrastructure, Hercules Hoists, Tourism Finance Corp of India, Shree Renuka Sugars, Sterling and Wilson Renewable Energy and DB Realty.
The BSE Small-cap index declined 1.3 percent dragged by Vinyl Chemicals (India), Sindhu Trade Links, KBC Global, Can Fin Homes, Future Lifestyle Fashions, JSW Holdings, Navkar Corporation, Balmer Lawrie Investment, and Tata Investment Corporation. Gainers included JTL Infra, Dish TV India, PC Jeweller, Schneider Electric Infrastructure, Hercules Hoists, Tourism Finance Corp of India, Shree Renuka Sugars, Sterling & Wilson Renewable Energy, and DB Realty.
The BSE Large-cap Index shed 1.25 percent dragged by the Power Grid Corporation of India, Shree Cements, GAIL India, Indus Towers, Adani Transmission, Info Edge India, UltraTech Cement, Star Health & Allied Insurance Company, NTPC and Tata Power Company. On the other hand, Adani Wilmar, Marico, Sun Pharmaceutical Industries, Hindustan Unilever, ITC, Ambuja Cements and Britannia Industries added 4-12 percent.
The BSE Large-cap Index shed 1.25 percent dragged by Power Grid Corporation of India, Shree Cements, GAIL India, Indus Towers, Adani Transmission, Info Edge India, UltraTech Cement, Star Health & Allied Insurance Company, NTPC, and Tata Power Company. On the other hand, Adani Wilmar, Marico, Sun Pharmaceutical Industries, Hindustan Unilever, ITC, Ambuja Cements, and Britannia Industries added 4-12 percent.
BSE Mid-cap Index fell 1 percent. Mahindra & Mahindra Financial Services, Schaeffler India, Godrej Properties, LIC Housing Finance, L&T Finance Holdings, Shriram Transport Finance Corporation, Gland Pharma, Dalmia Bharat and Canara Bank down between 6-14 percent.
BSE Mid-cap Index fell one percent. Mahindra & Mahindra Financial Services, Schaeffler India, Godrej Properties, LIC Housing Finance, L&T Finance Holdings, Shriram Transport Finance Corporation, Gland Pharma, Dalmia Bharat, and Canara Bank are down 6-14 percent.
Among BSE Sensex, Reliance Industries lost most in terms of marketcap followed by HDFC Bank, Power Grid Corporation of India and ICICI Bank. On the other hand, Hindustan Unilever, ITC, Bajaj Finance and Sun Pharmaceutical Industries added most of their marketcap. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
On BSE Sensex, Reliance Industries lost most in terms of market cap followed by HDFC Bank, Power Grid Corporation of India, and ICICI Bank. On the other hand, Hindustan Unilever, ITC, Bajaj Finance, and Sun Pharmaceutical Industries added most market cap. (Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
On the sectoral front, BSE Power index fell 5 percent, BSE Realty index declined 4 percent and BSE Capital Goods index fell 3 percent. However, BSE FMCG index added 3.6 percent, BSE Healthcare and Auto indices rose 1 percent each.
On the sectoral front, BSE Power index fell five percent, BSE Realty index declined four percent, and BSE Capital Goods index fell three percent. However, BSE FMCG index added 3.6 percent, and BSE Healthcare and Auto indices rose one percent each.
Foreign institutional investors (FIIs) sold equities worth Rs 4,361.77 crore of equities in the week gone by. On the other hand, domestic institutional investors (DIIs) bought equities worth of Rs 1137.96 crore. In the month of September till now, FIIs sold equities worth Rs 2,445.82 crore, and DIIs sold equities worth Rs 1,868.54 crore.
Foreign institutional investors (FIIs) sold equities worth of Rs 4,361.77 crore in the week gone by. On the other hand, domestic institutional investors (DIIs) bought equities worth of Rs 1137.96 crore. In September so far, FIIs have sold equities worth of Rs 2,445.82 crore, and DIIs have sold equities worth of Rs 1,868.54 crore.
In this week, Indian rupee touched a fresh record low (81.24) by crossing 81 mark for the first time. It ended lower by 125 paise to end at 80.99 per dollar on September 23 against its September 16 closing of 79.74.
In this week, Indian rupee touched a fresh record low (81.24) by crossing the 81 mark for the first time. It ended lower by 125 paise to close at 80.99 per dollar on September 23 against its September 16 closing of 79.74.
Rakesh Patil
first published: Sep 24, 2022 10:14 am