Stock market wrapup: The third consecutive week decline for domestic stock markets. The domestic stock market closed in red mark in the last trading session of the week after starting the week. This week (January 20-January 24), both major benchmark index Sensex and Nifty fell more than half a percent despite the rise in three trading sessions. This week was also difficult for the Sensex and the index broke 430 points. Last week, the Sensex closed at 76,619 on Friday, while it was closure at 76,190 this week. In this way, the Sensex has declined by 430 points in the last five trading sessions.
Similarly, the National Stock Exchange (NSE) Nifty-50 (Nifty 50) This week (January 20-January) closed down 110 points. Last week, the Nifty closed at 23,203 levels. While it closed at 23,092 this week, it shows a decline of 110 points.
Energy index broken, IT index climbed
There was a huge decline in Energy Index this week on the index front. The energy index fell by 4.1% this week due to weak quarterly results of oil marketing companies including Reliance Industries with heavy weightage and BPCL and HPCL. In contrast, the IT index increased 3.6% to the best performing sector.
This week investors lost ₹ 9.19 lakh crore
This week, investors have lost Rs 9.19 lakh crore due to the decline in the market. The market cap of listed companies in BSE was Rs 428,71,615 crore on Friday (January 17). On this Friday (24 January) it declined to Rs 4,19,51,854 crore. Accordingly, the market cap (MCAP) of companies has decreased by Rs 9.19 lakh crore.
Pressure in market with these trigger points this week
1. The announcement of US President Donald Trump’s announcement on neighboring countries imposed hier trade tariffs led to heavy instability in the market. Trump had announced a plan to impose trade fees on neighboring countries within a few hours of taking over.
2. At the same time, the decline in Energy Stocks caused a lot of trouble this week and limited the recovery in the markets.
3. The process of selling foreign investors (FIIS) continues continuously. Foreign investors sold equity worth Rs 5,462 crore from domestic markets on Thursday (January 23).
4. The market sentiments have been affected due to the December quarter results of indigenous companies being less than expected. Due to this, both major index closed for the third consecutive week in the weekly decline.
How was the market move on Thursday?
The BSE Sensex traded in a limited range on Thursday and closed at 76,520 with a gain of 115 points. At the same time, NSE Nifty 50 took a gain of 50 points and finished business at 23,205.