Mumbai: The last week was mixed for the Indian stock market. During this time, the market traded in a limited range due to global instability. However, most of the indices closed in the red.
Due to Holi holiday on March 14, the stock market traded only four days a week (from March 10-13). During this time, the Nifty fell 147.50 points or 0.65 percent to 22,397.20 and the Sensex fell 511.18 points or 0.69 percent to 73,828.91.
Midcap and smallcap fell more than largecap. The Nifty Midcap 100 index fell 1,223 points or 2.48 percent to 48,125.10 and the Nifty Smallcap 100 index fell 503 points or 3.27 percent to 14,897.35. Ajit Mishra, SVP, Research at Religare, said that on a weekly basis, the market remained in a limited range and closed with a slight decline. Nifty closed at 22,397.20 due to selling in big stocks.
Last week, all the indices except banking closed in the red. Realty, auto and metal indices have fallen sharply. Mishra further said that the range of 22,250-22,650 is very important for Nifty and a big breakout is expected from here. In such markets, investors should adopt a stock specific approach.
The Indian stock market closed in the red on Thursday. At the end of trading, the Sensex was down 200.85 points or 0.27 percent at 73,828.91 and the Nifty was down 73.30 points or 0.33 percent at 22,397. SBI, ICICI Bank, NTPC, Sun Pharma, Tata Steel, TCS, Power Grid and Kotak Mahindra Bank were the top gainers in the Sensex pack. Zomato, Tata Motors, IndusInd Bank, Asian Paints, Bajaj Finance, Maruti Suzuki, HUL, Reliance and UltraTech Cement were the top losers.
Foreign institutional investors (FIIs) sold shares worth Rs 792.90 crore on March 13, while domestic institutional investors (DIIs) bought shares worth Rs 1,723.82 crore on the same day.
