Indian stock market had a challenging week, and the major indices witnessed a sharp decline in the short period. The BSE Sensex had recently been at close to the 80,000 mark, but this sense has highly gone down and is now hovering around 77,000. The sentiment went bearish for the week as well. Global uncertainties are said to have spilled over into India and their mark remains visible.
The big factor was Donald Trump’s victory in the U.S. elections that added a lot of volatility. Additionally, crude oil prices may have gone up as Q2 corporate earnings were weak and selling by FIIs would have had its impact. However, these are speculative reasons and causes of this plunge are unknown.
Weekly Losers of the BSE Sensex:
- Asian Paints: The share of the company fell by over 10% this week after the company had declared its Q2 results. That made it the largest loser.
- Adani Ports and Special Economic Zone: The stock fell by over 7%.
- Tata Steel: Tata Steel saw its shares falling by over 11% with the volume crossing 36 million shares.
- NTPC Ltd: The energy major dropped by over 6%, which traded 15 million of volume
- JSW Steel: The stock fell by over 5% this week.
- Bajaj Finance: Another biggie in the losing list, as the stock dropped by over 5%.
- Nestlé India Ltd: The FMCG major plunged by over 4% this week. Monthly Performance: Big Losers
Monthly also followed the trend from the week, with several stocks showing tremendous downfall as follows:
- IndusInd Bank: More than 25% downfall this month at the top in losers.
- Asian Paints: Continued its down move with a loss of 19% through the month.
- Tata Motors: Declined more than 15% in the last month.
- Hindustan Unilever: Registered a decline of over 14% to its numbers this month.
- NTPC Ltd. Fell by more than 12% during this month.
- Nestle India Ltd: Down nearly 12%, that too as addition to the weak performance.
Well, with domestic as well as global factors, this week’s market sentiment was largely behavourial . The potential reasons behind this bearish phase can be accused of having been caused by the victory of Donald Trump, rising prices of crude oil, poor corporate earnings in Q2, and also FII selling. These are, however, speculative because the actual cause is unknown.
While investors had seen immense losses, there was hope that Sensex would recover soon and regain the moving trend as it may cross 80,000 in the near future. Investors are cautioned to keep a watch on developments in global and domestic markets since these will influence most of the subsequent moves.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
Tomorrow 17th Nov is celebrated as International Students’ Day!
As stated in Bhagavad Gita :
यः शास्त्रविधिमुत्सृज्य वर्तते कामकारतः।
न स सिद्धिमवाप्नोति न सुखं न परां गतिम्।
He who does not follow the wheel of creation set of going in this world, sinful and sensual; he lives in pain.
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