Markets this week continued to remain rangebound amid a whole host of global events, including the major 25 bps hike rate hike by the US Fed which spooked markets across the globe, weighing on Indian markets too. The Indian equity benchmark indices Sensex and Nifty posted the third straight week of losses as concerns surrounding the banking crisis and unbated foreign institutional selling weighed on the markets.
The Sensex and Nifty this week ended lower by 1% each. Broader markets underperformed the headline indices, with the Nifty Midcap index declining 1.7% this week. On the other hand, the Nifty Bank ended the week lower by 0.7%. Sectorally, most indices recorded losses this week, with Nifty Realty and Nifty Metal falling the most among others this week.
Among the Nifty, 34 out of 50 stocks ended the week in the red, with Adani Enterprises, Adani Ports, Coal India, HCL Tech being the top losers this week. On the other hand, HDFC Life, SBI Life and ICICI Bank were the top gainers this week.
