Stock Market Analysis
As of 11 March 2022
Domestic benchmark indexes ended a turbulent week with gains, snapping a four-week losing trend, as the Bhartiya Janata Party’s overwhelming victory in four out of five state polls boosted mood on D-Street despite global turbulence.
The 30-share pack Sensex climbed 86 points, or 0.15 percent, to conclude with minor gains at 55,550.30 after spiking over 800 points.
The index began in the red and fought to stay above the flatline. Its more comprehensive counterpart, the NSE Nifty50, increased 35.55 points, or 0.21 percent, to 16,630.45.
The whole day was bumpy as bulls did not favor global emotions. The market battled in a narrow range as US inflation, increasing commodity prices, and a failure to reach an agreement between Russia and Ukraine hurt the overall mood.
The Sensex gained 2.20 percent every week, and the Nifty50 gained 2.37 percent.
“Indices were range-bound on concerns about rising corporate cost pressures, rising global inflation, and sluggish vehicle deliveries to dealers amid supply bottlenecks,”
said S Ranganathan, Head of Research at LKP Securities.
Gainers and Losers
Cipla, BPCL, Sun Pharma, Dr. Reddy’s, and ITC were the biggest gainers, increasing to 3.5 percent. Power Grid, Titan, Asian Paints, Bajaj Finance, Kotak Mahindra Bank, SBI, and HDFC Bank were also top gainers.
Nestle was the most significant loss in the Nifty 50, plunging 1.72 percent. Other names that resulted in cutbacks were Maruti, Tata Consumer, Hindalco, and NTPC.
Market at a glance
- ITC rises for the fourth consecutive session, closing at a one-month high.
- Cipla shares closed at a record high this week, up 12.64 percent.
- National Fertilizers, Rashtriya Chemicals & Fertilizers, and FACT increased by more than 7%.
- Zomato is down 2.75 percent as a result of increased volume.
- The India VIX, a measure of future volatility, falls 0.93 percent to 25.34.
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