With investors keeping a close eye on the crucial US jobs report and the continued global economic doom, the main equity indices closed the week flat with a bearish tilt.
Market investors also became concerned as a result of Moody's Investors Service cutting its gross GDP growth prediction for India for the calendar year 2022 to 7.7%. (CY22). Also, it reduced India's GDP projection for CY23 from 5.4 percent to 5.2 percent.
From 58,833.87 on August 26, 2022, the BSE Sensex dropped 30.54 points, or 0.05%, to 58,803.33 on September 2, 2022. The NSE Nifty index also finished the same time 19.45 points, or 0.11 percent, lower at 17,539.45. Even with the negative trend, as many as 27 equities in the Nifty index were able to give investors a profit.
Bajaj Finserv became the index's top gainer with a gain of 6.41 percent. It was followed by Asian Paints (up 3.24%), ITC (up 3.28%), Mahindra & Mahindra (up 3.24%), and Tata Consumer Products (up 3.96%). (up 3.23 per cent). In contrast, the declines in Hindalco Industries, Shree Cement, Infosys, Reliance Industries, ONGC, and TCS ranged from 2% to 6%.
Adani Enterprises will replace Shree Cement as of September 30 in the Nifty 50 index, the National Stock Exchange of India stated on Thursday.
The BSE Telecom index saw the largest rise overall, up 3.84 percent. The indices for real estate, capital goods, autos, FMCG, and consumer durables all saw gains of 1% to 3%.
Broader indices also managed to outperform the Sensex and the Nifty over the previous week. The BSE 500, BSE Midcap, and BSE Smallcap indices all increased by 1.37, 1.35, and 0.38 percent, respectively.
Weekend Markets close flat, stocks to buy today
Sebi issues guidelines on algorithmic trading services
Bitcoin: Top Cryptocurrency Prices Today Sep 3