Week Ahead: Macro data, IPO action, FII mood, global cues among key market triggers this week
logged its worst week in over 15 months on lingering worries over a higher global interest rate environment following the US Federal Reserve's hawkish tone. Nifty 50 closed with a loss of 68 points, or 0.34 per cent, at 19,674.25 while the Sensex ended at 66,009.15, down 221 points, or 0.33 per cent. While domestic investors offloaded in healthcare, consumer durable and commodity stocks, foreign fund outflows and a steep decline in HDFC Bank shares also hit market sentiment.
Mid and smallcaps outperformed the benchmarks as the BSE Midcap index ended lower by 0.14 per cent while the BSE Smallcap index ended with a nominal gain of 0.04 per cent. For the week, Nifty 50 fell 2.6 per cent while the Sensex declined by 2.7 per cent - recording its worst fall since June 2022. The BSE Midcap index lost 1.7 per cent and the Smallcap index fell 2 per cent for the week ended September 22.
Except PSU Banks, all sectoral indices declined last week with Realty, Metal and Banks being the worst hit ones. The tone was negative from the beginning and that further deteriorated with sharp cuts in the select index majors, according to analysts. "Throughout the week, investor sentiment was plagued by concerns of impending rate hikes driven by inflationary pressures.
