{"id":15002,"date":"2022-04-23T10:59:09","date_gmt":"2022-04-23T05:29:09","guid":{"rendered":"https:\/\/flattrade.in\/kosh\/?p=15002"},"modified":"2022-04-23T11:02:11","modified_gmt":"2022-04-23T05:32:11","slug":"weekly-market-analysis-major-indices-tank-over-1-on-feds-hawkish-stance-and-weak-sentiments-ril-future-group-mindtree-and-lti-in-news-this-week","status":"publish","type":"post","link":"https:\/\/flattrade.in\/kosh\/weekly-market-analysis-major-indices-tank-over-1-on-feds-hawkish-stance-and-weak-sentiments-ril-future-group-mindtree-and-lti-in-news-this-week\/","title":{"rendered":"Weekly Market Analysis: Major indices tank over 1% on Fed&#8217;s hawkish stance and weak sentiments; RIL, Future Group, Mindtree and LTI in news this week"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"15002\" class=\"elementor elementor-15002\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4e2e8a83 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4e2e8a83\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3f10b60f\" data-id=\"3f10b60f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-457acec7 elementor-widget elementor-widget-text-editor\" data-id=\"457acec7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Dalal Street closed lower during a volatile week due to weak corporate results, high inflation numbers, uncertainty around Russia-Ukraine peace talks and volatile crude prices. Fed chair\u2019s comment of an aggressive rate hike of 50basis points in May weighed on the Indian markets. The <strong>Nifty 50<\/strong> formed a Doji candlestick on the weekly technical charts. On a weekly basis, the <strong>Sensex<\/strong> slumped 1.96% to 57,197.15 and the <strong>Nifty 50<\/strong> fell 1.74% to 17,171.95.<\/p><p>Broader markets also fell, tracking benchmark indices. The <strong>Nifty Smallcap 100<\/strong> index fell 1.87%. The <strong>Nifty Midcap 100<\/strong> index lost 1.6% on a weekly basis.<\/p><p>Top losers among Nifty sector indices were IT [-5.6%], Media [-4.2%], PSU Bank [-3.9%], Bank [-3.8%], Realty [-3.5%]. Top gainers were Auto [3.1%] and Energy [2.4%].<\/p><p><strong>FIIs<\/strong> sold for Rs 18,443.8 crore in the cash segment on a weekly basis, while <strong>DIIs<\/strong> bought Rs 14,394.4 crore.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-55dde5b2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"55dde5b2\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-343db2ef\" data-id=\"343db2ef\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-78685035 elementor-widget elementor-widget-heading\" data-id=\"78685035\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><br>Company News<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-203bf7d2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"203bf7d2\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-757cb014\" data-id=\"757cb014\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-74513882 elementor-widget elementor-widget-text-editor\" data-id=\"74513882\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Reliance Industries Ltd (RIL) <\/strong>and <strong>Future Group<\/strong>: Lenders to Future Group rejected a $3.4 billion deal for its retail assets from Reliance Industries Limited (RIL), banking sources said, adding to troubles at the firm which has been struggling to pay off debt since its business was hit hard by the COVID-19 pandemic, according to Reuters news report.<\/p><p>&#8220;All secured lenders have voted against the scheme of arrangement put forward by Reliance,&#8221; said a senior executive at a state-owned lender.<\/p><p>Meanwhile, RIL hit a new lifetime high of Rs 2802 apiece as its shares advanced after foreign brokerage firm Morgan Stanley upgraded its target price to Rs 3,253, signalling about a 20% upside in the counter. The foreign brokerage expects value creation potential from RIL\u2019s global pivot on energy security. The market cap of RIL inched towards Rs 19 trillion-mark as the shares rose over 10% from its lows in the week.<\/p><p><strong>Reliance Industries Ltd (RIL)<\/strong> and <strong>Zee Entertainment (ZEEL):<\/strong> Both the companies are among the firms that have signalled an intention to bid for broadcast rights of the IPL between 2023 and 2027, Bloomberg reported. Other companies include Amazon, The Walt Disney Co, Sony Group Corp, and fantasy-sports platform Dream11. BCCI will conduct the online auction starting June 12 to select winner\/winners to globally telecast matches of IPL between 2023 and 2027.<\/p><p><strong>Mindtree<\/strong> and <strong>L&amp;T Infotech (LTI)<\/strong>: Both the companies may consider a merger deal in the coming weeks, Bloomberg reported. The two companies, which have L&amp;T as its parent organisation, could consider share swap ratios for the merger. Tie-up could give the new company better pricing power and lower costs. If the merger goes through regulatory approvals, it will replace Tech Mahindra as the fifth largest IT services company in India.<\/p><p><strong>Adani Ports and Special Economic Zone (APSEZ<\/strong>): The company\u2019s subsidiary, Adani Harbour Services, is acquiring 100% stake in Ocean Sparkle (OSL), a leading third-party marine services provider, for Rs 1530 crore. The transaction is expected to be completed within one month, according to its exchange filing. The company said the investment is in line with its strategy to increase its footprint in marine service market.<\/p><p><strong>HCL Technologies<\/strong>: The IT services company saw its net profit zoom to Rs 3,593 crore for quarter ended March 2022. The net profit was Rs 1,102 crore in the year-ago period. The company\u2019s revenue from operations for Q4 FY22 came in at Rs 22,597 crore, 15% higher than a year ago. HCL Tech expects revenue to grow between 12-14% in constant currency for the fiscal 2023.<\/p><p>The company\u2019s board has declared an interim dividend of Rs 18 per share of Rs 2 each.For FY22, the net income increased to Rs 13,499 crore from Rs 11,145 crore in the previous fiscal. The revenue rose to Rs 85,651 crore from Rs 75,379 crore in FY21.<\/p><p><strong>HDFC<\/strong>: The mortgage lender has sold its 10% stake in HDFC Capital to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for about Rs 184 crore. ADIA is also the primary investor in alternative investment funds managed by HDFC Capital.<\/p><p><strong>FSN E-Commerce Ventures (Nykaa):<\/strong> The company has bought 18.5% stake in Earth Rhythm for Rs 41.65 crore to expand its D2C business. It also picked up 60% in Nudge Wellness for Rs 3.6 crore and made its entry into dietary supplements and other nutricosmetics products. Further, Nykaa also acquired activewear and athleisure brand \u2018KICA\u2019 for Rs 4.5 crore, to help strengthen its active-wear play.<\/p><p><strong>Bharat Petroleum Corporation Ltd (BPCL):<\/strong> The government is likely to take a fresh look at the oil refiner\u2019s privatisation, including revising the terms of sale, an official said. \u201cWe need to go back to the drawing board on BPCL. There are issues in terms of consortium formation, geopolitical situation and energy transition aspects,\u201d the official said. The official added that the transition towards green and renewable fuel has made privatisation difficult in existing terms.<\/p><p><strong>ITC<\/strong>: The conglomerate said that it will acquire 10.07% stake in Blupin Technologies, the company that owns direct-to-consumer(D2C) brand, Mylo, for up to Rs 39.34 crore. The investment will provide the company an early mover advantage in the evolving content-to-community-to-commerce space and will provide an expanded presence in the D2C space, ITC said in a regulatory filing.<\/p><p><strong>Coal India Ltd (CIL):<\/strong> The company said it has increased its supplies by 14.2 per cent to coal-based electricity generating plants in the first half of the current month, but soaring power demand due to hotter-than-normal summer seems to have dwarfed the upsurge in supplies. CIL said that it is coordinating with the ministries of coal, power and railways to build up stocks at power plants.<\/p><p><strong>Nazara Technologies:<\/strong> The company\u2019s subsidiary, Nodwin Gaming, in a board meeting has approved the acquisition of 35% of the paid up share capital of Brandscale Innovations by way of subscription to 567 equity shares having a face value of Rs 100\/- each of Brandscale Innovations for a total consideration of Rs 10 crore.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3a62cfb2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3a62cfb2\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3cc48b1b\" data-id=\"3cc48b1b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-36425f2a elementor-widget elementor-widget-heading\" data-id=\"36425f2a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><br>Economy News<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-37afdc20 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"37afdc20\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-54962f0f\" data-id=\"54962f0f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-38e83392 elementor-widget elementor-widget-text-editor\" data-id=\"38e83392\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>India\u2019s <strong>inflation<\/strong> based on <strong>Wholesale Price Index (WPI)<\/strong> rose to 14.55% in March, according to data released by the Ministry of Commerce &amp; Industry. The WPI-based inflation grew 13.11% during the month of February, while the WPI for January was revised to 13.68% from 12.96 per cent. The WPI inflation has remained in the double digits for the 12th consecutive month since April 2021.<\/p><p>The food articles category rose 8.06% in March, compared with 8.19% in the prior month. Vegetable prices rose 19.88% in March, against a rise of 26.93% in February. Potato prices climbed 24.62% while onions slipped 9.33%. Meanwhile, prices of fruits increased 10.62% in March, from 10.30% in February.<\/p><p>The <strong>fuel and power segment<\/strong> spiked to 34.52% last month from 31.50% in February. The <strong>manufactured products segment<\/strong> rose 10.71% in March, up from 9.84% in February.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1595638 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1595638\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7a8a043c\" data-id=\"7a8a043c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-35a14cc0 elementor-widget elementor-widget-heading\" data-id=\"35a14cc0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><br>Global Markets<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-abba3b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"abba3b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6b076404\" data-id=\"6b076404\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-50f03519 elementor-widget elementor-widget-text-editor\" data-id=\"50f03519\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Major Wall Street indices ended lower as the Fed\u2019s chair Jerome Power said a 50-basis-point rate increase could be \u201con the table\u201d for the May 3\u20124 policy meeting and weak results from Netflix which fell 36.8% during the week. For the week, . For the week, <strong>the S&amp;P 500<\/strong> tanked 2.75%, the <strong>Dow<\/strong> fell 1.85%, and the <strong>Nasdaq<\/strong> plunged 3.83%.<\/p><p>The <strong>S&amp;P Global US Composite PMI Output Index<\/strong>, which tracks the manufacturing and services sectors, showed business activity slowing down in April. The index fell to 55.1 in April, compared with 57.7 in March. The <strong>S&amp;P Global U.S. Services PMI<\/strong> fell to 54.7 in April, from 58.0 in March.<\/p><p>Japan\u2019s stock markets rose slightly during the week, with the <strong>Nikkei 225<\/strong> index inching up 0.04% and the broader <strong>Topix<\/strong> rising 0.47%. The country\u2019s <strong>core consumer price index<\/strong> rose 0.8% year-on-year in March and was behind other major developed economies.<\/p><p>Chinese markets fell as investors were concerned about the country\u2019s economic growth due to severe lockdowns to contain the spread of coronavirus. For the week, the <strong>Hang Seng<\/strong> plunged 4.09%, the <strong>CSI 300<\/strong> tanked 4.19% and the <strong>Shangahi Composite Index<\/strong> slumped 3.87%.<\/p><p>China\u2019s <strong>gross domestic product<\/strong> expanded by 4.8% in the first quarter of 2022, according to the country\u2019s statistics agency, compared with 4% expansion recorded in the final quarter of 2021.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-169fd55f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"169fd55f\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d6b88eb\" data-id=\"d6b88eb\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-41736144 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"41736144\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/ekyc.flattrade.in\/openaccount\/?utm_source=Blog&#038;utm_medium=organic&#038;utm_campaign=Demat+Account\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Open a Free Demat Account<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"Dalal Street closed lower during a volatile week due to weak corporate results, high inflation numbers, uncertainty around&hellip;","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"footnotes":""},"categories":[18],"tags":[46,43,78,26,77,24,23],"class_list":{"0":"post-15002","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-weekly-market","7":"tag-market-news","8":"tag-market-update","9":"tag-nifty","10":"tag-nse","11":"tag-sensex","12":"tag-share-market","13":"tag-stock-market","14":"cs-entry","15":"cs-video-wrap"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Weekly Market Analysis: Major indices tank over 1% on Fed&#039;s hawkish stance and weak sentiments; RIL, Future Group, Mindtree and LTI in news this week - Flattrade Kosh<\/title>\n<meta name=\"description\" content=\"Dalal Street closed lower during a volatile week due to weak corporate results, high inflation numbers, uncertainty around Russia-Ukraine peace talks and volatile crude prices. 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