Stock Market this Week: This week, some sectors also showed strength in the falling market…
Indian stock markets also declined on Friday, March 6, the last day of the week. On Friday, March 6, the Sensex fell by nearly 1,100 points and the Nifty50 fell below the 24,500 mark. Sensex fell 1,097 points to close at 78,918, while Nifty fell by about 315 points to close at 24,4450.
This sharp selloff wiped out around Rs 3 lakh crore from the total market capitalization of all the companies listed on BSE.
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How was the market this week?
Midcap stocks also showed pressure and Nifty Midcap 100 closed down by around 2.91%. Talking about sectoral indices, except some PSU shares, almost all the sectors closed in the red. The maximum weakness was seen in the Nifty PSU Bank index, which fell by 6.48%. This was the biggest weekly decline in the index this year.
Apart from this, Nifty Realty fell by 4.94%, Nifty Financial Services by 4.37%, Nifty Media by 4.30%, Nifty Oil & Gas by 3.79% and Nifty Auto by 3.88%. Whereas this week a decline of 2.29% was seen in Nifty FMCG, about 2% in Nifty Metal and 1.50% in Nifty IT.
Greenery in these sectors even in autumn
Some sectors also showed strength in the falling market. A rise of 1.10% was recorded in Nifty CPSE and 4.89% in Nifty Defense, which means that investors remained interested in the shares of defense and government companies.
Top losers shares- saw a big decline in them
- Indigo- 8.76%
- Tata Motors – 8.34%
- Larsen & Toubro – 7.68%
- Shriram Finance – 6.66%
- HDFC Life Insurance – 6.54%
Top gainers shares – these are the superstars of the market
- Bharat Electronics – 5.34%
- Hindalco Industries – 3.70%
- Sun Pharmaceutical – 3.59%
- Coal India – 2.28%
- Dr. Reddy’s Laboratories – 1.36%
Defense shares shine in weak market
Defense sector showed strength amid big fall in the market. After the news of DCX Systems getting an order worth Rs 68 crore from HAL, the company’s shares jumped by almost 6%. Mazagon Dock also continued to rise for the second consecutive day and the stock rose by more than 15% in two trading sessions.
5 big reasons for market decline
1. Increasing geopolitical tension in West Asia
The increasing conflict between America, Israel and Iran has increased the concern of investors. Due to the fear of energy supply being affected, the risk appetite in the market has reduced.
2. Rise in crude oil prices
A sharp rise was seen in the prices of Brent crude. On Friday it rose nearly 5% to $86.28 per barrel. For a big importing country like India, expensive oil can increase inflationary pressure.
3. Weak global signal
American Baja. Also closed with continuous decline this week, while weakness was also seen in Asian markets. This had an impact on the sentiment of the Indian market.
4. Selling by foreign investors
Foreign institutional investors (FIIs) are continuously withdrawing money from the market. On Thursday, he sold shares worth Rs 3,752.52 crore, whereas so far in the month of March, a total of about Rs 16,000 crore has been sold.
5. Pressure in the banking sector
There is a danger of inflation increasing due to rising crude prices, which may weaken expectations of interest rate cuts. This had a direct impact on the shares of the banking sector and the decline in the market intensified.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice in any way. ET NOW Swadesh recommends its readers and viewers to consult their financial advisors before taking any money-related decisions.
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