Week in review: Sensex, Nifty drift down after volatility
Sensex declined 136.28 points, or 0.24%, in the week ending Friday, April 29, 2022, to conclude at 57,060.87
Nifty 50 index fell 69.40 points, or 0.40%, to 17,102.55
During the week, the broader market lagged behind the benchmark indexes
The major indexes finished the week with minor losses after seeing large swings in either direction. Fears of aggressive monetary tightening in the United States, Covid-related lockdowns in China, and the ongoing Russia-Ukraine war fueled volatility. The Sensex closed just over the 57,000 mark. During the week, the broader market lagged behind the benchmark indexes.
The Sensex declined 136.28 points, or 0.24%, in the week ending Friday, April 29, 2022, to conclude at 57,060.87. The Nifty 50 index fell 69.40 points, or 0.40%, to 17,102.55. The BSE Mid-Cap index fell 280.33 points, or 1.14%, to 24,418.04. The BSE Small-Cap index dropped 636.06 points, or 2.17%, to 28,611.92.
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How equity benchmarks performed on a weekly basis:
Friday, April 29, 2022
The key indexes erased morning gains and closed a turbulent trading session with minor losses. The Nifty finished slightly above 17,100, dropping from the day's high of 17,377.65 in the early session. At 57,060.87, the S&P BSE Sensex fell 460.19 points, or 0.8%. To 17,102.55, the Nifty 50 index slid 142.5 points, or 0.83%.
Thursday, April 28, 2022
The domestic equity indices finished with high gains, mirroring strong global signals. The April 2022 F&O contracts ended on Thursday, causing trading to be volatile. The barometer index, the S&P BSE Sensex, rose 701.67 points, or 1.23%, to 57,521.06. The Nifty 50 rose 206.65 points, or 1.21%, to 17,245.05.
Wednesday, April 27, 2022
The domestic equity indexes finished a tumultuous trading day with slight losses. After touching a day's low of 16,958.45 in afternoon trade, the Nifty managed to settle above the 17,000 level. The S&P BSE Sensex, fell 537.22 points or 0.94% to 56,819.39. At 17,038.40, the Nifty 50 index slid 162.40 points, or 0.94%.
Tuesday, April 26, 2022
The benchmark indexes concluded with substantial gains, ending a two-day losing trend. Value purchasing arose in response to good global cues and solid fourth-quarter results from domestic companies. The S&P BSE Sensex, rose 776.72 points, or 1.37%, to 57,356.61. At 17,200.80, the Nifty 50 index increased by 246.85 points or 1.46%.
Monday, April 25, 2022
The benchmark indexes fell on negative global signals. The Nifty finished with significant losses below the 17,000 level. Fears of an aggressive rate rise by the US Federal Reserve, COVID-related lockdowns in China, and the ongoing Ukraine-Russia war weighed on investors' confidence. The S&P BSE Sensex, fell 617.26 points, or 1.08%, to 56,579.89. To 16,953.95, the Nifty 50 index fell 218 points or 1.27%.
What happened in the Global markets:
China's industrial earnings increased 8.5% year on year in January-March, according to government figures. On Tuesday, Chinese President Xi Jinping called for an "all-out" campaign to build infrastructure. His remarks came as mainland China has been dealing with its worst COVID-19 outbreak since the pandemic's first shock in early 2020.
Retail sales in Japan increased more than predicted in March, according to official figures released Thursday. Retail sales increased by 0.9% in March compared to the same month last year.
In the United States, the trade deficit in goods reached a new high in March. The goods trade imbalance increased by 17.8% to a record high of $125.3 billion. The rise was most likely due to greater volumes and costs. Goods imports increased 11.5% to $294.6 billion. According to official figures released Thursday, US economic growth dipped 1.4% year on year in the first quarter of 2022. The report was significantly worse than the slight gain projected by economists, and it came after the economy grew 6.9% in the fourth quarter of 2021.
In Europe, the French economy remained stagnant in the first quarter of the year, despite the relaxation of COVID-19 regulations. The eurozone's second-largest economy remained stable after expanding by 0.8% in the fourth quarter of 2021.