Weekly Report: Market decreased 4% amid rate hikes by RBI

For the week, the Nifty fallen 691.25 points (4.04 percent) to closed at 16,411.3, while Bank Nifty fallen 1495 points (4.14 percent) closed at 34591. the BSE Sensex down 2,225.29 points (3.89 percent) to closed at 54,835.58.

Indian market decreased 4 percent in the week ended May 6 after a surprise rate hike by the Reserve Bank of India (RBI) and weakness in the global markets following the U.S. Federal Reserve and ECB’s decision to increase interest rates to control the increasing inflation that hit economic growth.

Large-cap Index:

Top Gainers: ITC, Power Grid Corporation and NTPC.

Top Losers: Bajaj Finance, HDFC Bank, Eicher Motors and Titan Company.

Mid-cap Index:

Top Gainers: Bombay Burmah, Shriram Transport, Zee Entertainment, Gujarat State Petronet ,Oil India,

Top Losers: Info Edge, Voltas, Apollo Hospital, Cholamandalam Investment, CRISIL, Aditya Birla Capital.

Small-cap Index:

Top Gainers: Future Consumer, Gokaldas Exports, Paisalo Digital, Future Supply Chain Solutions and Home First Finance Company.

Top Losers:  Angel One, 63 Moons Technologies, Brightcom Group, Future Retail, TV18 Broadcast, DB Realty, Morepen Laboratories, Future Enterprises.

Among the sectors, the Nifty Information Technology index down by 15 percent, the Nifty media index fell 12 percent and the Nifty realty index fallen 10 percent. on the other hand, the Nifty energy index gained 9.4 percent.

Foreign Institutional Investors (FIIs) sold equity shares worth Rs 12,733.46 cr, while Domestic Institutional Investors (DIIs) bought equity shares worth Rs 8,533.26 cr.

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