Russian Bear Makes the Markets Plunge | Indian Stock Market Weekly Wrap Up

What a week! When we started this week, the Russian bear was all set to attack Ukraine, while experts all over the world were speculating what it will do next. In a remarkable move, Russia declared a “special military operation” in Ukraine & started the biggest war in Europe since World War II.

The threat of a looming war had caused stock markets to remain volatile through the past weeks. As the war has begun, the benchmark indices plunged to a deep low however they made a sharp recovery on Friday.After a week of volatility Nifty ended the week 618 points lower (-3.58%) at 16,658.40. Sensex had plunged to a low of 54,439 points only to end the week at 55,858 1,974 points lower (- 3.41%) than the last Friday’s close. Bank Nifty ended the week at 36,430 down 1,168 points from last week’s closing a net fall of 3.11% after recovering from a dip below 35,000 points.

All sectoral indices ended on a negative, Nifty Media and Nifty Oil & Gas faced the most pressure with the Nifty Media index being the biggest sectoral laggard facing the highest loss of -7.68% followed by Nifty Oil & Gas (-6.29%) and Nifty PSU Bank (-5.71%).

The top gainer of the week was Kotak Bank up by 30.15 points (1.7%) followed by Cipla (1.6%), Power Grid, and Hindalco both up by 0.8%. Top Losers were BPCL (-9.9%); UPL (-9.7%); Grasim (-9.0%) HDFC Life (-8.8%) and SBI Life (-8.2%)

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Created on Feb 28th 2022 02:56. Viewed 337 times.

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