The Indian rupee decreased by 10 paise during this week, falling from its June 16 closing of 81.93 to 82.03 to a dollar on June 23.
The Indian market lost four weeks’ worth of gains in the turbulent week that concluded on June 23, along with the rest of the world’s markets, following Jerome Powell’s aggressive remarks about future rate hikes from the Federal Reserve. The Bank of England’s unexpected rate increase and the delayed monsoon also soured investor mood.
BSE Sensex down by 0.63 percent, or 405.21 points, to conclude the week at 62,979.37, and Nifty50 dropped by 0.85 percent, or 160.5 points, to complete the week at 18,665.50.
Rajesh Exports, Adani Power, New India Assurance Company, Voltas, Indian Hotels Company, Zed Entertainment Enterprises, IRCTC, and AU Small Finance Bank were the companies that caused the BSE Mid-cap Index to decrease by 1.2 percent. Exide Industries, Natco Pharma, ICICI Securities, Gillette India, and Tube Investments of India added 5-19%, whereas Shriram Finance, Piramal Enterprises, Max Financial Services, and Tube added 5% to 9%.
IIFL Securities, Udaipur Cement Works, Future Consumer, IDFC, Aptus Value Housing Finance India, Manaksia, Aegis Logistics, Mishtann Foods, MPS, Reliance Power, and Ador Welding were the companies that pulled down the BSE Small-cap index by 1 percent. The shares of LG Balakrishnan and Brothers, Antony Waste Handling Cell, Subros, Ddev Plastiks Industries, DMCC Specialty Chemicals, HPL Electric & Power, and Sintex Plastics Technology increased by 23 to 32%.
The Adani Enterprises, Avenue Supermarts, Ambuja Cements, Tata Motors – DVR, Bandhan Bank, Adani Transmission, SBI Cards & Payment Services, and Paytm lost 6-10%, contributing to the BSE Large-cap Index’s 1% decline.
Reliance Industries, Hindustan Unilever, State Bank of India, and Bajaj Finance all saw their market capitalization on the BSE Sensex decline the most, while HDFC Bank, Tata Consultancy Services, and Housing Development Finance Corporation saw their market capitalization increase the most.
The Nifty Media index lost 3.6 percent, the Nifty Metal index lost 3 percent, the Oil & Gas, FMCG, and Realty indices each lost 2 percent, and the overall sectors indexes all finished in the negative territory.
Foreign institutional investors (FIIs) did not make a significant contribution this week, while domestic institutional investors (DIIs) purchased shares of stock worth Rs 1,693.08 crore.
The Indian rupee fell 10 paise last week, closing at 82.03 to the dollar on June 23 as opposed to 81.93 on June 16.