The week that was
Last week, the flagship Sensex and Nifty50 indexes jumped around 4% each amid gains across most sectors, led by financials, autos and consumer stocks – a second consecutive week of gains. The Sensex added 2,313.6 points to end the truncated holiday week at 57,863.9 and the Nifty50 rose 656.6 points to 17,287.1 – both one-month closing highs.
Broader markets also strengthened. The Nifty Midcap 100 rose 2.7% and its small cap counterpart 1.2%.
Optimism around peace talks between Russia and Ukraine, crude oil’s decline from 14-year highs and central bank online action supported investor sentiment.
Nifty Financial Services and Nifty Auto were the biggest gainers among NSE’s sector indices, posting weekly gains of 6% each. Nifty Bank ended the week up 5.4%, its biggest weekly gain in two months.
The Nifty Metal was the only sector index to slip into the red, down 0.1%. No fewer than 45 stocks in the Nifty50 pack posted weekly gains.
|Store||Weekly change (%)||Store||Weekly change (%)|
|Asian Paintings||7.7||Tata Steel||-0.4|
Some 340 scrips on the Nifty 500 – the exchange’s broadest index – ended above the flatline.
The recent rebound has certainly eased some pressure in the market, although the sustainability of gains on major indices largely depends on global signals, said Ajit Mishra, vice president of research at Religare Broking. “Any news of an escalation in the Russian-Ukrainian war and a deteriorating COVID situation in China could again shake sentiment. We suggest maintaining a positive but cautious approach and focusing on day-to-day risk management. tomorrow,” he said.
Mishtra thinks the Nifty50 has the potential to test the 17,500-17,700 levels and sees a cushion at 16,800-17,000 on the downside.
Here are the main factors and events likely to influence Dalal Street in the week of March 21:
|March 21st||Fed Chairman’s speech||Speech by the President of the ECB||Hong Kong Inflation Data|
|March 22||Euro area construction output data|
|March 23||Fed Chairman’s Speech, Crude Inventory Data, Home Sales Data||UK inflation data|
|March 24||Unemployment Insurance Claims, Manufacturing PMI and Services||UK, France, Germany Manufacturing and Services PMI||BoJ Monetary Policy Minutes, Japan Manufacturing and Services PMI|
|March 25||UK retail sales data, consumer confidence reading||Inflation data in Japan|
A slew of central bank officials are expected to speak during the week.
Initial Public Offering
Ruchi Soya’s FPO worth up to Rs 4,300 crore will hit the streets on Thursday, March 24. The issue will close on March 28.
Investors will be able to bid for shares in a price range of Rs 615-650 in multiples of 21.
Foreign Institutional Investors (FIIs) net bought Indian stocks worth Rs 1,685.9 crore last week, according to preliminary exchange data. Net purchases by domestic institutional investors (DII) amounted to Rs 1,291 crore.
|Company||Date of departure||Goal||Registration Date|
|ADVIK Laboratories||March 21st||AGE||–|
|BP Capital||March 21st||AGE||March 22|
|Gaelle||March 21st||Interim Dividend – Rs. – 5.0000||March 22|
|SPV Global Trading||March 21st||Right to issue equity shares||March 22|
|Virinchi||March 21st||Bonus number 1:1||March 22|
|AGI Infra||March 22||Interim Dividend – Rs. – 1.0000||March 23|
|BCL Industries||March 22||Interim Dividend – Rs. – 2.0000||March 23|
|Mishra Dhatu Nigam||March 22||Interim Dividend – Rs. – 1.5600||March 23|
|Veeram Securities||March 22||AGE||–|
|Mold-Tek Technology||March 23||Interim Dividend – Rs. – 1.7000||March 24|
|Allcargo Logistics||March 24||Interim Dividend – Rs. – 3.0000||March 25|
|Bharat Electronics||March 24||Interim Dividend – Rs. – 1.5000||March 26|
|DJ Mediaprinting & Logistics||March 24||Bonus number 1:1||March 25|
|John Nandan||March 24||Bonus Number 2:1||March 25|
|RITES||March 24||Interim Dividend – Rs. – 7.5000||March 25|
|RailVikas Nigam||March 24||Interim Dividend – Rs. – 1.5800||March 25|
|Vardman Textiles||March 24||Stock split from Rs.10/- to Rs.2/-||March 26|
|Century Extrusions||March 25||AGE||–|
|Data Infrastructure Trust||March 25||Distribution of income (InvIT)||March 28|
|Diligent industries||March 25||AGE||–|
|Tijaria Polypipes||March 25||AGE||–|
|TVS engine||March 25||Interim dividend||March 28|