In the week under review, BSE’s 30-share sensitive index Sensex fell 1141.78 points, or 1.96 percent, to 57197.15 points and the National Stock Exchange’s (NSE) Nifty fell 303.7 points to 17171.95 points on the weekend.
Similarly, like big companies of BSE, selling dominated small and medium companies. Midcap slipped 286.88 points to 24698.37 points and Smallcap slipped 273.62 points to 29247.98 points.
According to analysts, global cues, futures settlement and results of the companies in the fourth quarter of FY 2021-22 will be the key factors determining the market direction.
Equity markets fell for the second consecutive week last week on weak global cues, disappointing quarterly results of information technology companies.
Global cues may dominate the market next week with April futures settlement and companies’ fourth quarter earnings. The effect of ICICI Bank’s result will be seen on the market on Monday.
At the same time, the results of big companies like Bajaj Finance, HDFC Life, Bajaj Auto, HUL, Ambuja Cement, Axis Bank, Bajaj Finserv, Vedanta, IndusInd Bank, Maruti Suzuki, UltraTech Cement and Wipro are going to be released next week, which will have an impact on the market.
Will stay They say foreign institutional investors (FIIs) are continuing to sell in the domestic equity market and their behavior will be crucial amid concerns of aggressive rate hike in the US.
There is still uncertainty about the Russo-Ukraine war, while the market will also keep an eye on crude oil prices.
