Mumbai, 22 February (IANS). The Indian stock market stayed in the consolidation face this week. During this period, the Sensex and Nifty declined by about half a percent. The reason for this decline is believed to be weak global signs and trade wise.
The Sensex and Nifty started on a positive note this week. Shopping was seen in pharma, metal and energy shares. However, after the US threatened the new tariff, largecap shares were seen selling. This spoiled the sentiment of markets.
The midcap and smallcap index have seen purchases and both index climbed about 2 percent on a weekly basis.
Market instability comes at a time when concerns over mutual tariffs and global economic stability are affecting investors’ content.
Vinod Nair of Geojit Financial Services said, “US President Donald Trump’s mutual tariff announcement severely affected the export industries, especially the pharmaceutical sector and the performance of the sector was quite poorly.”
The report further stated that market fluctuations may continue in the coming time. The reason for this is due to the holidays, the monthly expiry of small business weeks and derivatives contracts.
Vaibhav Porwal, co-founder of Dazerv, said, the flow of foreign institutional investors (FIIs) may return to India in the next 3-6 months. The reason for this is to strengthen the Indian economy in the long term.
He further stated that the income of corporates is likely to increase in the long term due to strong domestic demand, digital transformation and emphasis on infrastructure.
The Indian stock market closed in a red mark on Friday. The Sensex fell 424.90 points to 75,311.06 and the Nifty fell 117.25 points to close at 22,795.90.
-IANS
ABS/
