of the News:
Indian stock markets faced a challenging week as concerns over GDP and corporate earnings weighed down investors. This led to heavy selling pressure across the board, with only a few small companies showing positive returns. Just four small-cap stocks managed to gain double-digit returns, with Spandana Sphoorty Financial leading the way at 9%. Other small winners included PTC Industries, Coffee Day Enterprises, Vijaya Diagnostic, and Pokarna.
In contrast, 176 stocks saw their prices drop significantly. Some of the biggest losers were Jai Corp, KEC International, Inox Wind, Skipper, and Oriental Rail Infrastructure. No mid-cap stocks managed to post double-digit returns, with The Phoenix Mills having the highest return of 5.5%. Kalyan Jewellers faced a steep decline of 20%.
Within the Sensex group, Tata Consumer led with a 4% increase, followed by HCL Tech at 2.5% and HUL at 1.5%. However, only 8 out of 30 stocks in this category ended the week positively, while the rest faced declines.
Foreign investors sold nearly $2 billion, adding to the negative market mood. A stronger dollar and rising US bond yields further affected investor trust.
What should investors do next? Next week, the focus will be on corporate earnings, especially from major IT companies. Key economic data, including India’s inflation and industrial production figures, will also influence market movement. An increase in crude oil prices could increase inflation as well. Overall, market volatility is expected as investors react to earnings reports, economic data, and global market trends.
Technical analysis shows that Nifty is at a critical support level of around 23,500. If it falls below this level, we could see further drops to around 23,260. Resistance is noted at 23,700.
(Disclaimer: The views expressed by the experts are their own and do not necessarily reflect those of Thellv.news)
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