The Indian stock market closed lower last week, with the benchmark Sensex index falling 0.66%. The Nifty 50 index also closed lower, falling 0.58%
What happened to the Indian stock market last week
There were a number of factors that weighed on the market last week, including:
The ongoing war in Ukraine and its impact on global economic growth.
Rising inflation in India and other countries.
The prospect of more interest rate hikes by central banks around the world.
Despite the weakness last week, the Indian stock market is still up about 10% year-to-date. However, some analysts believe that the market could be due for a correction in the near future.
Here are some of the major movers in the Indian stock market last week,
Tata Consultancy Services: The IT giant fell 2.3% last week after reporting weaker-than-expected quarterly earnings.
Hindustan Unilever: The consumer goods company fell 1.8% last week after reporting a decline in its quarterly profit.
Reliance Industries: The oil and gas giant fell 1.5% last week after reporting a decline in its quarterly profit.
Infosys: The IT giant fell 1.3% last week after reporting weaker-than-expected quarterly earnings.
Bajaj Finance: The non-banking financial company fell 1.2% last week after reporting a decline in its quarterly profit.
The Indian stock market is expected to remain volatile in the near future, as investors continue to assess the impact of global economic headwinds. However, the long-term outlook for the Indian stock market remains positive, as the country’s economy is expected to continue to grow at a healthy pace.